Tag Archives: Counties

The distress of the San Diego real estate market seems to be easing, as most indicators are rallying despite some signs of continued fragility. According to a May 25, 2010 article from San Diego 6 News, “San Diego has logged 11 consecutive months of increasing home prices, while much of the nation’s housing market continues to decline. The Standard & Poor’s/Case-Shiller Home Price Indices for San Diego rose 1.5 percent from February to March and was up 10.8 percent year-over-year.” The piece went on to say that “Nationally, the S&P index of 20 major cities fell 3.2 percent in the first quarter of 2010, but was 2 percent higher from the same period last year. The index was down .5 percent from February to March. Prices in 13 of the 20 metropolitan areas tracked by the index declined from February to March.”

This same basic news – that the average price of a San Diego home for sale rallied once again in March – was mentioned in a May 25, 2010 article in the San Diego Union-Tribune. This piece found that “With 11 consecutive months of growth, San Diego County is leading the nation’s largest metro areas in home-price appreciation, the widely watched Standard & Poor’s/Case-Shiller Home Price Index showed Tuesday. In March, the index of San Diego prices was up 10.8 percent from the previous year, the biggest increase since the heady days of mid-2005.” The piece by Roger Showley continued to say that “By contrast, prices in the 20 metro areas that comprise the index declined by 0.5 percent from February to March, the sixth straight decline. They were up 2.4 percent year over year.”

Foreclosure rates, one of the usual indicators of distress in the San Diego real estate market, eased considerably in the most recent tracking period. According to a May 24, 2010 article also in the Union-Tribune, “Mortgage defaults dipped in San Diego County last month to their lowest level since January, as distressed-property owners found alternatives to foreclosures, MDA DataQuick reported Monday. Other signs of distress seemed [to] be easing, as delinquencies stopped growing, banks acted on their foreclosure backlogs, more homes were listed for sale and there were more building permits.”