When Will San Diego Home Prices Hit Bottom?
Monday, April 13, 2009
Are San Diego home prices now reasonable? It depends on how you define reasonable. According to the most recent Standard & Poor's home price index, local home prices have dropped 40 percent from the market peak in November 2005. But, local home prices are still almost 50 percent higher than they were in 2000. We speak to a local realtor and a financial advisor about whether prices are expected to continue to drop, and what you should consider if you are thinking about buying a new home right now.
Alison St. John: It's one of San Diego's top topics of conversation: how is the housing market doing and when will we see the bottom? Well, we may or may not have reached the bottom, but there are definitely bubbles of good news breaking the surface as if something is on its way up!
As part of our KPBS series Rough Water: Navigating San Diego's Economy. This morning we're going to talk with a couple of people who keep a close look on San Diego's housing market and are in a good position to give us their take on the state of things. If you're wondering about buying, is it too soon to jump? If you're trying to sell, are there any positive indications out there?
Matt Battiata, CEO of the Battiata Real Estate Group.
Rich Toscano, is a financial advisor with Pacific Capital Associates. Rich writes about local real estate for Voice of San Diego's A Nerd's Eye View column and for Piggington's Econo-Almanac.
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