San Diego, US Home Values Still Going South
Home values in the 20 largest metro markets dropped 3.7% in November from a year earlier, according to Standard & Poor's/Case-Shiller indices released this morning (Jan. 31). There were 18 year-over-year declines in the 20 markets and 19 month-over-month declines. San Diego County values were down 5.4% year-over-year, worse than the 3.7% decline of the 20 metro markets as a group. San Diego November prices dropped 0.9% from October, better than the 1.3% drop of the top 20. "Despite continued low interest rates and better [inflation-adjusted gross domestic product] growth in the fourth quarter, home prices continue to fall," says S&P economist David Blitzer. San Diego home values are now down 39.5% from their late 2005 peak, compared with a 33% decline from the peaks for the top 20 markets.
More like this:
- SD Housing Values Down 38.5% from Peak — May 31, 2011
- San Diego Home Prices Rose in August; Values Down 38.7% from Peak — Oct. 27, 2009
- SD Home Values Improve Slightly, Still Down 42% from Peak — July 28, 2009
- Local Home Prices Continue Dropping — May 26, 2009
- San Diego Home Prices Down 25% Over Past Year, 31.2% from Peak — Sept. 30, 2008