California Real Estate Blog
Housing Market Recovery is Broadly Based
San Diego homes are still worth less than they were a year ago, but there are signs that trend is turning around.The San Diego metropolitan area saw its annual home price decrease 5.6 percent in April, said a new S&P Case-Shiller Indices report. That puts San Diego in the bottom half of the 20-city index, but monthly data [...]
San Diego’s Median Home Price up for Third Month in a Row
San Diego County’s median home price was up in May for the third month in a row. The median price rose 0.9 percent to $812,250, said CoreLogic data. Despite the recent price bump, the median price is still down 3.3 percent annually after nine months of declines brought on by rising interest rates. While interest rates are [...]
San Diego Home Listings down by Half since Pandemic
The number of San Diego County homes for sale has dropped by 53 percent since 2020, and there are a lot of factors that could keep inventory low. It’s not just in sunny Southern California where this is happening. Nationally, listings are down 31 percent in the same time period. There were 2,968 homes listed for sale [...]
New County Measures to Fast-track Home Building
The county is adding pre-approved building plans, tiny homes on wheels and accelerated permit review to spur new home construction amid a housing and homelessness crisis. These new county rules to expedite housing construction will provide guaranteed timelines for permit review, offer pre-approved home plans and relax other regulations, marking a long-awaited effort to streamline homebuilding amid [...]
San Diego Approves Strict New Renter Protections
The San Diego City Council approved a new set of tenant protection laws aimed at giving renters more rights when facing no-fault evictions. Tenant rights advocates and landlords attended the council meeting at City Hall. Tenant advocates argued the proposed law didn’t go far enough, while many Mom-and-pop landlords complained it is too much regulation. The City [...]
San Diego Home Prices are on the Rise again
San Diego County’s median home price rose 5.3 percent in March — reversing nine months of declines — to $790,000, according to CoreLogic data. The region’s median, the point at which half the homes sold for more and half for less, is still down 1.3 percent annually.Rising mortgage rates had softened the red-hot market in recent months. Yet [...]
Renters’ Rights Would Go Up Under City’s Plan
San Diego released a new renter protection package that will make it harder for landlords to evict tenants and will give new rights to renters. The City Council is expected to review the legislation, and if approved, it would surpass the state’s Tenant Protection Act of 2019, known as AB 1482, with stricter regulations in some areas. [...]
San Diego Annual Home Price Gains Wiped Out
San Diego County’s median home price was $750,000 in February, according to CoreLogic data, down 2.6 percent from the same time last year. It’s the first time in more than three years that the annual price went down. It also marked the ninth month in a row of price declines. Rising borrowing costs have slowly eaten away at [...]
San Diego County Built Fewer Homes Last Year
San Diego County built fewer homes in 2022 than it did the previous year despite a major political push for more housing. There were 9,642 homes built last year, said data from the Construction Industry Board, compared to 10,163 in 2021. The vast majority — 6,171 — were multi-family, mainly apartments, as well as some townhouses and [...]
San Diego Home Sales fall to Lowest Level in 35 Years
January is typically a slow month for home sales in San Diego — but this January was unusually slow. There were 1,682 home sales in January, CoreLogic reported, which was the lowest recorded in data going back to 1988. Unlike other times when the real estate market shifted — like the Great Recession — people aren’t losing their [...]
New San Diego Homes – Harder to Find and More Expensive
The number of people putting their old homes for sale in San Diego County has slowed dramatically — but don’t expect many options for newly built homes either.There are fewer new single-family homes hitting the market in 2023 than perhaps since the Great Recession.Developers state that less than 1,000 new single-family homes will be built in 2023. Guesses [...]
San Diego’s Median Home Price ends Year almost $100K off its Peak
San Diego County’s median home price ended the year down nearly $100,000 from its peak. The median home price was $756,000 in December, CoreLogic reported Thursday. That’s down from the record-high $850,000 reached in May. The median includes all single-family homes, townhouses, condos and is a mix of new and resale homes. There were 2,119 home sales [...]