Analysts Predict Rebound to Slowing San Diego Housing Market

KPBS | By KPBS Public Broadcasting

Published November 7, 2007 at 9:56 AM PST

This story was published more than 16 years ago.

In September, Southern California home sales fell to their lowest level in about two decades. Is speculation partially responsible for the recent downturn? We talk with local real estate experts who t

Tom Fudge: Earlier this autumn, we learned that Southern California land prices hit their lowest point in more than a decade. The housing slump in San Diego resulted in a modest drop in median home price over the past year and a dramatic drop in the number of home sales. Home sales dropped nearly 35 percent over the year in our county. San Diego County's 2,100 homes sales in September was the lowest number we've seen since January 1996.

The catastrophic fires of last month may have some effect on homes sales. But the fact is, we're still in a housing slump, driven by poor decisions and expectations of home buyers and investors.

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Guests

Norm Miller, real estate scholar and professor and director of academic programs at University of San Diego's Burnham-Moores Center for Real Estate .

John Karevoll, analyst with DataQuick Information Systems .