01 Jun San Diego real estate appreciation steady in March
The pace of appreciation of homes for sale in San Diego County remained steady in March.
That’s according to the S&P Case Shiller Index, which found the resale of single-family homes in San Diego rose 4.8 percent over the year; month-to-month appreciation remained the same, nearly one-tenth of a percent more than in February. The annual home appreciation rate has increased over the last seven months, ranging from 4.6 percent and 5 percent. It’s not what annual appreciation was in the summer of 2013, when it reached 20-percent plus, but it’s still strong for San Diego real estate, experts said.
Demand is still strong; however, new home construction has slowed. San Diego real estate analysts remain confident with the area’s growth in technology jobs and relatively low interest rates. The city ranks 12th out of 20 cities. CoreLogic real estate tracker reported the median resale price of a single-family home in March was $500,000, up 6.3 percent.