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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.

Comments
2

Don, you nailed this way back when you said a big drop could hit 40% or more of value.

I thought 30% max. Boy was I off base on that one.

May 26, 2009

Response to post #1: After the stunning price increase that ended in late 2005, a huge drop was likely. Best, Don Bauder

May 26, 2009

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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