Report: San Diego home prices may be scaring off investors
Single-family home prices in San Diego may be so high, that it may not be worthwhile for investors to buy and rent those homes, according to a new report.
"The median for a resale single-family house is now $950,000. So it is approaching that 1 million mark. So we've hit a real record in the past few months," said Phillip Molnar, senior business reporter for the San Diego Union-Tribune.
Molnar joined Midday Edition Tuesday to talk about what the report found, as well as some recent trends in the home buying market.
"One thing that buyers need to keep in mind is you might be facing several offers, for whatever home you're trying to buy, but it's not as bad as last year at this time. So you might be competing against three other offers as opposed to 15. So that's the situation right now on the ground," he said.