Tag Archives: san diego real estate

San Diego home prices increases among highest in nation

San Diego was among the top three cities in the U.S. with the biggest annual home price increases in September, said a key real estate index released Tuesday.

The region’s home prices have risen 8.2 percent in a year, said the S&P Case-Shiller Indices. Only Seattle and Las Vegas had bigger increases in the 20-city index.

San Diego also made its way into the top three cities in the previous month. Before that, the last time it received that distinction was 2014.

Susan Wachter, a real estate economics professor at the Wharton School at the University of Pennsylvania, said San Diego’s price increases show steady job growth but, like much of the nation, a lack of homes for sale.

“Every job doesn’t come along with a new house. That’s the bottom line,” she said. “Supply doesn’t necessarily respond to demand, and it hasn’t.”

San Diego County added 24 new homes for every 100 jobs created from 2012 to 2016, according to building permits and the U.S. Census. As of September, the region was adding about 30 homes per 100 jobs.

San Diego’s yearly increase outpaced the nationwide gain of 6.2 percent and the other California cities covered by the index, Los Angeles (6.2 percent) and San Francisco (7 percent).

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-case-shiller-ranking-20171128-story.html

disclaimer: for information and entertainment purposes only

Advertisements

SD County home median price under $500k

The San Diego County median home price was $495,000 in January, unchanged for three months, CoreLogic said.

In October, the median hit $507,500 — its highest point in a decade — but has remained under half a million dollars since and pushed the nominal 2005 peak of $517,500 (or $644,487 in 2016 dollars) further out of reach.

January is typically the slowest month of the year, a lingering effect of buyers and sellers closing up shop for the holidays. There were 2,480 sales this January, up 4.6 percent from the same time last year.

Alan Gin, economist at University of San Diego, said a reason for the unmoved median home price could be rising interest rates since Donald Trump’s election victory and high prices.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-corelogic-jan-20170227-story.html

Disclaimer: for information and entertainment purposes only

Housing fight hits San Diego

The fight for more housing has a new war room in San Diego.

Increasingly, even well-off professionals are finding they can no longer afford to live in the San Diego area. In October, the county’s median home price was the highest in a decade — $507,500 — according to CoreLogic, a data analysis company.

Part of the problem, housing experts say, is simply a shortage of units that is driving demand. As the number of San Diegans has risen, new housing construction has failed to keep pace.

And one reason for the lack of construction? The residents of San Diego.