San Diego Home Prices Continue to Rise

San Diego Home Prices Continue to Rise

For the most part of last year 2009  and through January of 2010, San Diego Home prices have been rising. In the recently released Case-Schiller report, the San Diego Home Price Index rose .4%. from December 2009 through January 2010.

The Price-Schiller Indices tracks changes in the value of the residential real estate market in 20 metropolitan regions across the United States. Of these 20 cities in the report , San Diego and Los Angeles were the only two areas with a month over month gain.

This most recent report, the larger context of the 10 city and 20 city findings indicate that overall, median prices are down .7% nationwide.

The range in scores for the Month over month report designated Washington DC with the highest score of 178.02 and Detroit with 71.82.  San Diego came blistering in with 156.95 up over .4%. Considering where we were just 3 years ago, San Diego is clearly in rebound mode. The year to year  average for San Diego through March 2010 has gone up 5.9%.

The one issue that remains perplexing is that the number of sales for January 2010 was down and continues to lag, largely because we have a limited amount of Inventory. In years past , the Spring market in San Diego has brought inventory figures up, this year it either hasn't fully kicked in or sellers are staying on the side lines and waiting for more gain in value.