The State of San Diego's Housing Market
The unpredictable, fluctuating housing market in San Diego keeps analysts on their toes. For the first time in ten years, the overall median housing price across the county is down from 2005 to 2006.
Tom Fudge: Last year, a strange thing happened in San Diego. The median home price actually dropped by about one percent. It hardly sounds remarkable, until you consider that the median home price increased more than 20 percent just two years before. In fact, 2006 was the first year in more than a decade when San Diego County saw a decline in real estate prices. Last year, by the way, home sales dropped by 24 percent from a year before.
Many economists have seen the real estate market as a bubble that is going to burst. No sign of that so far. But we’re probably seeing a leveling off, and definitely a cooling off. It takes a cool customer to keep San Diego real estate prices in perspective, and Roger Showley does it for the Union Tribune .
- Roger Showley, staff writer in the home section of the San Diego Union-Tribune .