19 Apr San Diego home prices break records
CoreLogic found the median home price in San Diego hit $478,000 in March. That figure is higher than the record-breaking $475,000, which was just before the recession in August 2007. But don’t pop out the champagne just yet. While home sales are at epic levels, the number of home sales are down. Those figures increased just 2 percent from March 2015 to now, CoreLogic reported. And that has San Diego real estate experts concerned.
San Diego home sales hurt by affordability, demand
After record home prices, how could that be? A lack of San Diego homes for sale and sliding affordability are contributing to lower home sales, experts said. Lower inventory hurt San Diego home sales, and come as San Diego homes on the market often come with intense competition — 3-5 competing offers after just a few days is relatively common. Rising demand plus lower inventory has resulted in a sellers’ market. And home prices keep rising.