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U.S., San Diego Home Prices Still Struggling

U.S. home prices ended the first quarter of this year at new post-crisis lows, according to today's (May 29) release of Standard & Poor's/Case-Shiller numbers. "While there has been improvement in some regions, housing prices have not turned," says David M. Blitzer of Standard & Poor's. Average home prices across the U.S. are back at mid-2002 levels. San Diego County home values inched up 0.4% from February to March, topping the 0.0% of the 20 major U.S. metro areas. However, San Diego's 2.7% decline over the previous year was slightly worse than the 2.6% drop of the 20-city composite. San Diego home values are now down 40.2% since the peak of late 2005. Nationally, values are down 35.1% from their peak in the second quarter of 2006.

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U.S. home prices ended the first quarter of this year at new post-crisis lows, according to today's (May 29) release of Standard & Poor's/Case-Shiller numbers. "While there has been improvement in some regions, housing prices have not turned," says David M. Blitzer of Standard & Poor's. Average home prices across the U.S. are back at mid-2002 levels. San Diego County home values inched up 0.4% from February to March, topping the 0.0% of the 20 major U.S. metro areas. However, San Diego's 2.7% decline over the previous year was slightly worse than the 2.6% drop of the 20-city composite. San Diego home values are now down 40.2% since the peak of late 2005. Nationally, values are down 35.1% from their peak in the second quarter of 2006.

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2

I find it interesting that SD home prices should drop a tad more than national. Do you think it was because they were somewhat more inflated, Don?

May 29, 2012

SD home prices were more than "somewhat" more inflated than national prices. They were a good deal more inflated. Best, Don Bauder

May 29, 2012

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