Tag Archives: san diego housing

San Diego – Rent or Buy

Posted on November 14, 2016 | Leave a comment

Right now it is cheaper in the long run to buy a home than rent in San Diego County, but the cost benefits aren’t as high compared to much of the nation.

It is about 32 percent cheaper to buy than rent in San Diego, said Trulia’s Rent vs. Buy study released Thursday. Buyers in 85 of the nation’s largest metros, however, see more of a benefit, including Boston, Salt Lake City, New York, Atlanta, Philadelphia and Detroit.

While San Diego’s rents are high, the gap between home prices and leasing isn’t as extreme as in other cities. For instance, in West Palm Beach, Fla., the median home price is $241,509 and monthly rent is $1,950 — making buying a home there 53 percent cheaper than renting.

Consumers gain the least from buying in Honolulu, where the $629,606 median home price and $2,500 monthly rent make it only 17 percent cheaper to get a home of your own.

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Case-Shiller shows San Diego home price increases slowing

Posted on April 27, 2016 | Leave a comment

Home price increases outpaced the national average in San Diego County in February but at a slower pace than usual, said the S&P/Case-Shiller Home Price Index released Tuesday.

The San Diego median home price ticked up 6.4 percent in the last 12 months, lower than the 7.2 percent gain in December and 6.9 percent in January.

The nationwide median home price, up 5.3 percent in the last 12 months, also showed signs of slowing.

David Blitzer, managing chairman of the Index Committee at S&P Dow Jones Indices, said in the report that a lack of new home construction and rising prices are not just bad for new buyers but have owners in a bit of a bind.

“Homeowners looking to sell their house and trade up to a larger house or a more desirable location are concerned with finding that new house,” he wrote.

SD median home price ticked up 6.4% in the last 12 months | SanDiegoUnionTribune.com

From January to February, San Diego home prices, adjusted for seasonal variation, increased 0.2 percent — the third lowest of the 20-city composite.

Mark Goldman, finance and real estate lecturer at San Diego State University, said the month-to-month change was not yet enough to qualify as a trend but would be a different story if it continues into the summer.

“At this point, keep an eye on it. Don’t panic,” he said. “We’re in a good, sustainable range of price appreciation.”

Goldman said the home market could continue to do well for owners if investors decide real estate is a better play than stocks and bonds.

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San Diego’s housing market at mid year – UT Report

Posted on August 15, 2015 | Leave a comment

The costs of housing continued to rise in San Diego in the first half of 2015 both for renters and for owners.

The prices are outpacing wage growth, a trend that analysts say is only going to continue so long as the region sees its supply of housing remain tight. Mark Goldman, a loan officer and real-estate lecturer at San Diego State University, said home prices are appreciating faster than he expected.

“In the last year we’ve seen more and more positive news about the economy, and that could help to support the market,” he said.

Rents rose as the county continued to see high wage job growth, with developers responding with a new supply of high-end units.

Here’s a by the numbers look at San Diego County’s housing market for the first half of 2015:

$455,000: The median price for all homes sold in San Diego County in the first six months of 2015, up 5.8 percent from a year ago, CoreLogic reports. It’s the highest midyear median since it was $488,000 in 2007.

$1,575: The average rent in San Diego County in March, up 9 percent from the $1,445 average in 2014, according to Marketpointe Realty Advisors.

3,443: The average number of home sales per month, up 8.7 percent over 2014, CoreLogic reports. That average got a boost in June, when 4,467 properties changed hands. That was the most transactions in a month since June 2006.

6,335: The average number of active listings per month from January to June, a 2.9 percent drop from last year, according to the San Diego Association of Realtors. Given the number of home sales per month, that level of inventory represents less than two months of a supply. Most analysts consider 6 months of supply to be healthy.