Forecast: San Diego home prices to rise 8.3% in '21. Most in nation

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CoreLogic said the lack of homes for sale will continue to push up prices

The price of a San Diego home could increase by more than 8 percent this year, more than anywhere else in the nation, according to a forecast released Tuesday.

Real estate analysts CoreLogic said the price of a single-family home in San Diego County will increase 8.3 percent from November 2020 to November 2021. That means the median price of house in San Diego could be around $776,000 by the end of the year.

CoreLogic said main reason is a lack of homes for sale that will push up prices as buyers fight it out. A secondary factor is income growth for highly skilled positions in San Diego County.

It isn’t out of the ordinary for San Diego homes to increase a lot in a year — in fact, single-family homes here were up 9.5 percent last year — but the forecast is noteworthy because CoreLogic predicts most markets will see price appreciation slow in most markets.

https://www.sandiegouniontribune.com/business/story/2021-01-05/forecast-san-diego-home-prices-to-rise-8-3-in-21-most-in-nation