Matthew Suárez 11 a.m., Dec. 3
San Diego home values, rents keep rising sharply
County rents 4th highest among major metro areas
Is the housing bubble reinflating? With the Federal Reserve continuing to create money at a frenetic pace, one has to wonder. In February, U.S. home values rose 5.8%. Among the largest 30 markets, San Diego was 8th in year-over-year advance, up 13.9%, topped only by Phoenix (22.9%), San Francisco (18.6%), Las Vegas (18.1%), San Jose (17.1%), Sacramento (15.3%), Detroit (14.4%), and Riverside (14%). Detroit? Yes, but Detroit's median home value is $84,900. San Diego's is $385,800, topped only by Los Angeles, San Francisco, and San Jose. The West is booming despite its water problems, which mainstream media continue to play down.
Rents are also eye-opening. San Diego's monthly rents are $2,117, topped only by San Jose, San Francisco, and Los Angeles.
More like this:
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- SD Home Values Rise in August — Sept. 19, 2012
- San Diego Home Value, Rent Growth Lag Other Metro Areas — Aug. 21, 2012