In San Diego, Home Prices are Still Low

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Real Estate Marketing Insider comments on the current state of home prices in San Diego, which are not rising as quickly as they are in other parts of the country.

Real Estate Marketing Insider's Mr. Nergarden issued some comments about the state of the San Diego Real Estate Market, which is having difficulty joining the national housing recovery today, and his opinion is that this will help home buyers because it means that there are many opportunities in the San Diego area, especially if one is interested in San Diego vacation rentals. reports that the home prices in San Diego County for June 2012 were still lower than the prices a year before. This is in contrast to the national home prices that have been rising and are generally higher than they were in 2011. The San Diego home prices were, however, slightly higher in June than they were in May, spurring hopes that the general recovery may eventually come to the area. These numbers are based on the Standard and Poor’s Case-Shiller Index, which tracks this data. While there was a slight 1.1% rise in home prices in San Diego County generally, North County saw a 4.7% rise in home prices and a 21.6% increase in sales. With this information, some experts are claiming that the real estate market in San Diego has bottomed out and will begin a new general upward trend.

San Diego County is the second-most populated county in California, with a population of over 3 million people. The country seat and largest city is San Diego. San Diego County has many miles of coastline and is the southwesternmost county in the continental United States. All of this coastline and pleasant climate make San Diego County a tourist destination, with coastal properties selling for very high prices during the real estate boom of the early part of the century. These home prices are higher than average for the rest of the United States.

The Standard and Poor’s Case-Shiller Index is a report generated monthly about national home prices. There are actual several version of the Index, one for prices nationally, another covering the 20 largest cities, including San Diego, and several others that have a more narrow focus. The index was first developed in Boston during a housing boom in the early 1980’s and has since grown to become an important financial and economic barometer.

North County is a portion of San Diego County that is densely populated. Many of the residents of North County are wealthy, and many of the homes in the area sell for over a million dollars, even after the housing crisis began. North County is also known for supporting a very strong beach culture as there is a lot of shoreline in the area.

Real Estate Marketing Insider today commented on the state of the San Diego real estate market, which is experiencing low home prices.

About Real Estate Marketing Insider:
Real Estate Marketing Insider is a publication for real estate professionals everywhere based in La Jolla, California. The primary goal of REMI is to provide hot tips, strategies, and analysis.

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