Mike Madriaga 11:30 a.m., July 22
San Diego Does Less Bad Than Nation in Zillow Numbers
San Diego metro area home values continue to drop, but at a slower rate than the nation's, according to numbers released today (Aug. 9) by Zillow Inc. San Diego's home values declined 0.2% from the first to second quarter; the U.S. declined 0.4%. Similarly, San Diego values dropped 5.8% from a year earlier compared with a drop of 6.2% for the nation.
San Diego's median home value is $350,400, more than double the nation's $171,600. San Diego's median tops New York's $347,100, and is only beaten by Los Angeles's $389,400 and San Francisco's $479,300 among the top 25 U.S. metro areas.
San Diego prices have dropped 34.7% from the peak, worse than the nation's 28.8%. But 25% of San Diego area homes have negative equity, compared with the nation's 26.8%. At left: home in Scripps Ranch