• Scam Diego alerts

San Diego County existing home prices plummeted 24.8 percent last year, according to Standard & Poor's/Case-Shiller indexes revealed today (Feb. 24). Of the 20 largest metro areas, only five did worse than San Diego: Los Angeles, Miami, Las Vegas, Phoenix and San Francisco. The last three dropped more than 30 percent. San Diego home prices are now down 39.2 percent from their high in November of 2005. There was one bit of possible slightly good news. The drop from November to December was 2.1 percent, an improvement over the 2.3 percent drop from October to November. Nationally, the composite drop of the top 20 metro areas was 18.2 percent in the fourth quarter versus the same period of 2007 -- the largest decline in the 21 year history of the series.

  • Scam Diego alerts

Comments

valueinvestingisdead Feb. 26, 2009 @ 11:04 a.m.

Option Rate ARMs are coming later this year thru 2012...next wave of foreclosures and plunge. Carlsbad and San Marcos are especially vulnerable to these loans. Look for price declines of 30% or more there from here.

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Don Bauder Feb. 26, 2009 @ 2:07 p.m.

Response to post #1: Yes, there could be 30 percent further declines in some areas of North County where those kinds of mortgages were so prevalent, but I wouldn't look for another 30 percent for the entire county. The decline from the peak is now almost 40 percent. Best, Don Bauder

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