Real Estate Foreclosures Slowing, Local Home Prices Continue Dropping
Local home foreclosures slowed last month, but the rate of mortgage failures is still much higher than last year. Is this a sign of improvement in the housing market, or an indication that the worst i
Tom Fudge: The story of San Diego's housing market has not changed for about a two years. What's new is how much further prices have fallen and how many more foreclosures have occurred. Here's one fact you can latch onto: the median home price in San Diego has fallen from a high of $518,000 in late 2005 to $385,000 today. We don't know how long the will slide last. But we have a pretty good idea of how the housing slide has affected our economy, and how foreclosures have affected the quality of life in some neighborhoods.
- Andrew LePage, analyst with DataQuick Information Systems .