Local Home Prices Continue Dropping
San Diego metropolitan area single-family home prices continued dropping in March -- down 1.5% from February and down 22% over the last year, according to Standard & Poor's/Case-Shiller data, announced today (May 26). The drop for the 20 major metro areas from February was 2.2% -- worse than San Diego's. The local price drop accelerated, however: it was 1% from January to February. San Diego seems to be doing better relative to other locales than it was earlier. Eight metro areas out of 20 had bigger declines year-over-year than San Diego. Earlier, there used to be fewer with larger declines. San Francisco, Phoenix and Las Vegas were all down more than 30% over the last 52 weeks. From their peak in November of 2005, San Diego home prices are now down 42.2%. But Phoenix prices are down 53% from their June 2006 peak.
More like this:
- SD Housing Values Down 38.5% from Peak — May 31, 2011
- San Diego Home Prices Inch Up — Aug. 25, 2009
- San Diego Home Prices Down 38 Percent from Peak Three Years Ago — Jan. 27, 2009
- San Diego Home Prices Back to Levels of March '03, Down 36% from '05 Peak — Dec. 30, 2008
- San Diego Home Prices Down 25% Over Past Year, 31.2% from Peak — Sept. 30, 2008