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SPECIAL COVERAGE: Living With Wildfires: San Diego Firestorm 10 Years Later

Real Estate Experts Discuss Rise In San Diego Home Prices

Real Estate Experts Discuss Rise In San Diego Home Prices

The cost of a single-family home jumped 4 percent from February to March — bringing the median price to $519,540.

Real Estate Experts Discuss Rise In San Diego Home Prices

GUESTS:


Michael Lea
, lecturer, San Diego State University


Chris Anderson
, president, San Diego Association of Realtors

Transcript

Homes sales — and prices — are up in San Diego County, according to the San Diego Association of Realtors.

The cost of a single-family home jumped 4 percent from February to March — bringing the median price to $519,540 in the county.

What role historically low mortgage rates are playing into the housing market? And can San Diegans expect this boom to turn out better than the last?

Home prices remain “significantly below the pre-recession highs,” Michael Lea, lecturer of finance and the former director of the Corky McMillin Center for Real Estate at San Diego State University's College of Business Administration, told KPBS Midday Edition on Monday.

Chris Anderson, board president of the San Diego Association of Realtors, said the increase in home sales is caused by low-interest rates. She said she thinks it’s also less likely another collapse will occur in the real estate market like the region recently experienced.

“People are more savvy now and the loan prices are better so that won’t cause a bubble,” Anderson said.

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