San Diego Housing Slump Continues

KPBS | By KPBS Public Broadcasting

Published May 12, 2008 at 10:57 AM PDT

This story was published more than 16 years ago.

Home prices in San Diego County are down 19.2 percent from February 2007, according the S&P Home Price Index. San Diego was ranked 9th in the nation for defaults and foreclosures. We talk about the

Tom Fudge: Are we there yet? At the end of the housing slump, I mean. Most economists and housing experts say no. In San Diego, the market flew so high on such shaky financing, we've got a little ways to go before housing prices stop falling. One thing that virtually guarantees the market will continue to be in doldrums is the large number of homes for sale, many of which have been taken by the bank. In fact, one local real estate economist predicts the sales of foreclosed homes will make up the majority of local sales this year.

Guest

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Roger Showley , staff writer for the San Diego Union-Tribune covering real estate.