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Rents Increase as Home Prices Slowdown

Audio

Aired 4/19/09

Tom Fudge : A lot of things are expensive in San Diego. But the cost of housing in San Diego is the number one hardship for people struggling to make ends meet. Recently, you might think that hardship has gotten a little less hard. A new softness in home sales have brought down the cost of buying a home. The median home price last month was down 5%, compared to a year before. The number of homes sold in the country last month was down a whopping 21% from a year before. Those numbers, incidentally, come from the Dataquick Corporation.

If the softening in home prices is good news for people hoping to buy, there’s bad news for renters. Rents have recently gone up in San Diego, and the rental vacancy rate has gone down. In short, there’s a lot going on in the housing market.

Guests
  • Dan Holbrook, president of At|vantage Realty and host of Real Money Real Estate on KCEO AM 1000.
  • Robert Pinnegar , executive director of the San Diego County Apartment Association.

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