San Diego Housing Prices on Decline

Calculated Risk posts:

The San Diego Union reports: County housing prices rise slightly

San Diego County housing prices reversed course and rose slightly last month to reach a median of $485,000, locally based DataQuick Information Systems reported Monday.

There is month to month variability in the numbers, however on a YoY basis, the median San Diego home price declined 5.5% from $513,000 in October 2005.

As for sales, San Diego County had 3,282 transactions last month, up 2.3 percent from September but down 21 percent from a year ago, the 28th straight month to have a year-over-year decline.

There were 3,282 sales in October 2006, down from 4,155 sales in October 2005.

This is the lowest transaction level for October in San Diego since 1996 - the end of the previous housing bust in San Diego.

The DataQuick numbers for the rest of California will be released this week.

[AF]