Various Authors noon, Dec. 8
SD housing outperforms most metro areas in third quarter
San Diego home values rise faster than most other metro areas in Zillow report, but SD is not in top ten turnaround markets.
National home values rose 1.3% in the third quarter, according to a Zillow report released this morning (Oct 23), and year-over-year values rose 3.2%. Among the 30 largest markets, San Diego did better than the nation, rising 3.2% in the quarter and 4.3% over the year. The median value of county homes is now $356,100. Some once-deeply depressed markets did better: Phoenix, for example, was up 20.4% over the year and Las Vegas rose 7%. On the other hand, San Jose rose 9.7% over the year, and the median home value there is now a whopping $599,800.
Also today, Realtor.com listed the ten top turnaround real estate markets for the third quarter. Oakland and Sacramento are the top two, and San Diego is not in the top ten. Those top ten, incidentally, are dominated by Western markets, mostly in California.