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Tue Dec 29, 2020, 09:27 PM

San Diego home prices have biggest gain in 6 years; third highest in nation

All cities in the S&P Dow Jones index reported higher price increases than the year before

San Diego home prices continued their climb in October, rising 11.6 percent — the highest in more than six years.

Prices in America’s Finest City increased the third fastest annually in the nation, the S&P CoreLogic Case-Shiller Indices reported Tuesday. Only Phoenix, up 12.7 percent, and Seattle, up 11.7 percent, had bigger gains.

The last time prices in the San Diego metropolitan area increased so rapidly was 12.4 percent in May 2014. Still, it is nothing compared to housing boom times when, in July 2004, prices were up 33.37 percent in a year (only to crash more than 26 percent four years later).

San Diego was not an isolated case in October. Substantial home price gains were reported throughout the nation. Prices were up 8.4 percent nationwide and all 19 metro areas in the index had faster increases than the same time last year.

https://www.sandiegouniontribune.com/business/story/2020-12-29/san-diego-home-prices-have-biggest-gain-in-6-years-third-highest-in-nation

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Reply San Diego home prices have biggest gain in 6 years; third highest in nation (Original post)
Zorro Dec 2020 OP
BigmanPigman Dec 2020 #1

Response to Zorro (Original post)

Tue Dec 29, 2020, 10:22 PM

1. Where are people getting the money to do this?

I thought the economy sucked due to Covid. Aren't people out of work? How are they able to buy these very expensive homes?

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