Eva Knott 10:44 a.m., May 18
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.