California Real Estate Blog
Renting a House in San Diego just got More Expensive
Renting a house in San Diego just got more expensive. Rent for single-family homes in San Diego is up 10 percent in a year. The cost to buy a San Diego single-family home is out of reach for many, but renting one isn’t easy either. The median rent for a three-bedroom house in the first quarter of [...]
San Diego Resale Home Price Drops for the First Time in 2022
San Diego County’s resale home price dropped in May and may be the first sign of a cooling housing market. The resale single-family home price was $940,000, a $10,000 drop from the previous month, said CoreLogic/DQNews on Wednesday. This is the first time in 2022 that the resale home price has gone down, and is part of [...]
Fannie, Freddie Announce Equitable Housing Finance Plans
Fannie Mae and Freddie Mac have announced sweeping reform plans aimed at providing equitable access to sustainable affordable housing, from helping members of underserved communities become homeowners to ensuring that minority and underprivileged buyers are able to sustain homeownership. The three-year plans were announced jointly by the two government-sponsored enterprises (GSEs) as well as the Federal Housing Finance [...]
San Diego Home Prices Increase 29.6% in a Year
San Diego’s home prices accelerated at a level not seen in 18 years in March, as rising interest rates have not slowed the market. Home prices in the San Diego metro area rose 29.6 percent year-over-year in March, according to the S&P Case-Shiller Indices. That was up from 29.1 percent in February. Prices haven’t increased at this [...]
San Diego Single-Family Median Price now $1 million
For the first time, the median price of a single-family home in San Diego County reached $1 million in April, according to resale housing statistics compiled through the San Diego Multiple Listing Service by the Greater San Diego Association of Realtors. That price represents a 2.5% uptick from March and a nearly 20% increase from the same [...]
San Diego Home Prices hit Another Record: $805K
San Diego County buyers were unfazed by rising mortgage rates in March as the median home price hit a new high of $805,000. Home prices were up 18.7% in a year, said CoreLogic. The new median record — a combination of new and resale condos, townhouses and single-family homes — surpasses the previous peak in February of [...]
San Diego Homebuilding at a 15-year High
San Diego County built more than 10,000 homes in 2021, something that hasn’t happened in 15 years. There were 10,188 building permits pulled last year, up 7 percent from 2020, said data released by the Real Estate Research Council of Southern California. Construction was primarily led by new apartments, spurred on by the biggest rent increases in [...]
Fed Chair: We need to Raise Interest Rates Quickly
The Federal Reserve needs to move quickly to raise interest rates and normalize its monetary policy, according to Fed Chairman Jerome Powell. Between a strong job market and soaring inflation, "there is an obvious need to move expeditiously to return the stance of monetary policy to a more neutral level," Powell said during his address at the [...]
San Diego Home Price Hits New Record
San Diego’s median home price hit a record $775,000 in February as buyers shrugged off rising mortgage rates. Local prices increased 15.2 percent in a year as of February, reported CoreLogic/DQNews. The number reflects a combination of new and resale condos, townhouses and single-family homes. February’s median — the point at which half the homes sold for [...]
San Diego Home Prices up 26% in a Year
San Diego closed out 2021 with home prices up 25.9% in a year - near a record high. The S&P CoreLogic Case-Shiller Indices reported that San Diego metro had the fifth-highest price increases in the nation on an annual basis. The top markets were Phoenix, up 32.5 percent, and Tampa, up 29.4 percent. San Diego metro, which [...]
New San Diego Single-family Homes are Rare and getting Smaller
Those hoping San Diego County’s new home supply might increase overall home inventory will be disappointed. To start 2022, there are only about 1,000 new single-family homes confirmed by developers, with the bulk of new residential construction reserved for apartments and townhouses. Roughly 1,000 new single-family homes confirmed to start the year is low compared to demand, and [...]
San Diego Home Price Gains Versus Other Cities
The S&P CoreLogic Case-Shiller Indices reported that San Diego metro saw a 24.4 percent home price gain in a year, making it the sixth fastest-growing market in 20-city index. San Diego had been in the top two markets in the closely watched index for most of 2021, but has now been in sixth for the past two [...]