• Scam Diego alerts

San Diego County home values rose 0.1% in November from October -- the only metro area among the top 20 to gain, according to the latest Standard & Poor's/Case-Shiller home price indices. San Diego's values rose 2.6% from a year ago. Only three other cities of the top 20 registered gains: Los Angeles (2.1%), San Francisco (0.4%), and Washington DC (3.5%). However, the national housing scene is not bright, says David Blitzer of S&P. "The housing market has experienced an unambiguous deceleration in home price returns," says Blitzer. "A double-dip could be confirmed before Spring." San Diego home values are now down 36% from the peak in November of 2005.

  • Scam Diego alerts

Comments

johnsd Jan. 25, 2011 @ 11:28 p.m.

How will the shadow inventory affect prices? The foreclosures associated with the sub-prime loans have already occurred. However, the foreclosures associated with buyers who qualified by standard lending practices, but owe more than the current market values, are still looming over the real estate market.

Rising interest rates may have a counterintuitive impact of raising prices in the short-term as people buy a home before the loans become unaffordable.

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Don Bauder Jan. 26, 2011 @ 7:49 a.m.

Yes, there is still an overhang of underwater homes. Best, Don Bauder

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