Good news for the San Diego area–home prices are on the rise!
The S&P/Case-Shiller Home Price Index showed Tuesday that from August to September, the index grew 0.9 percent, which is down from 1.8 percent from July to August. (U-T San Diego, “San Diego home prices rising slowly”)
Typically the fall season brings with it a slowdown of real estate activity. Per Michael Lea, paraphrased by U-T San Diego:
…The number of sales is still below normal levels, which is causing the higher yearly price gains. He noted that rising interest rates would contribute to lower affordability and therefore lower demand and put a strain on prices.
DataQuick was cited as reporting the median home price in San Diego county at $422,000; in October the median price was $412,750.
Read all of U-T San Diego’s article on this current real estate news for San Diego here: “San Diego home prices rising slowly”.