San Diego Housing Market News and Analysis
Analysis of the (primarily) San Diego housing market.
Submitted by Rich Toscano on July 16, 2014 - 6:34pm
Well now... the median price per square foot for single family homes (which is the best real-ish time price indicator) surged by 3.3% last month:
Submitted by Rich Toscano on June 15, 2014 - 4:50pm
San Diego's median price per square foot eked out a small gain in May, with the single family home median rising .3% from April.
Submitted by Rich Toscano on May 25, 2014 - 5:39pm
Let's do a quick check-in on San Diego housing valuations:
Submitted by Rich Toscano on May 18, 2014 - 6:37pm
It was a month of yet more gains for home prices, per the median price per square foot, with condos going particularly nuts. That latter bit is not very analytically important, as the condo price/sqft can be very volatile. But it does make for an exciting looking chart:
Submitted by Rich Toscano on April 14, 2014 - 6:59pm
Prices edged up again last month:
Submitted by Rich Toscano on March 17, 2014 - 8:11am
The housing market was pretty firm again in February. The median price per square foot nudged upward for the month:
Submitted by Rich Toscano on February 15, 2014 - 4:38pm
So much for that price pullback. The median price per square foot for single family homes rose in January, just hitting a new post-crash high:
Submitted by Rich Toscano on February 2, 2014 - 10:54am
I must admit, I considered dispensing with the "Shambling Towards Affordability" title for these valuation updates, but in the end I decided that tradition must be maintained. Anyway, other than the fact that the housing market is neither "shambling" nor moving "towards affordability," it's a perfect fit.
One thing I did change was to combine my two previous valuation indicators, home-prices-to-incomes and home-prices-to-rents, into a single metric. I thought this would make it simpler to get a single big-picture view on home valuations, and it makes the chart maintenance a little easier on me as well. The indicator is constructed simply by dividing the Case-Shiller San Diego home price index by an equally weighted average of San Diego rents and per capita incomes, and normalizing the whole deal so that January 2000 equals a value of 100 (just like the CS index).
OK, enough background... let's have a look:
Submitted by Rich Toscano on January 19, 2014 - 5:41pm
Hi all - here are some year-over-year stats showing how what the market did for the year 2013...
Submitted by Rich Toscano on December 29, 2013 - 7:24pm
Hello there... the usual roundup of housing charts can be found below. Prices have declined a bit in recent months, in a somewhat more noticeable manner than the usual year-end lull -- but considering the magnitude of the early-2013 price increase and the spike in rates midway through the year, this is perhaps understandable. Months of inventory have increased back to the levels that prevailed for most of 2012; this is a big change in percent terms but supply still remains scarce, historically speaking.
I hope everyone has a fantastic 2014!
Submitted by Rich Toscano on November 23, 2013 - 3:24pm
Folks, sorry this has taken me so long. When urbanrealtor starts offering to buy me booze just to get the monthly charts up, I know I've been a huge slacker even by my own lofty standards of indolence.
So without further delay, let's do this. Starting with the median price/square foot, we see that the rapid price apprecation we've seen all year finally took a breather over the past couple months, with prices by this measure flattening in September and then falling in October.
Submitted by Rich Toscano on September 15, 2013 - 5:26pm
As I mentioned last in last month's rodeo, the full effect (whatever that may be) of the recent rate increase won't show up until the September data. Thus, the August data presented below is kind of a transitional phase... higher rates will have affected some of these sales but not all.
With that said, home prices continued to climb:
Submitted by Rich Toscano on August 20, 2013 - 6:00pm
Prices increased last month, but at a slower pace than the springtime frenzy:
Submitted by Rich Toscano on July 14, 2013 - 4:56pm
This chart of the Case-Shiller index (with my estimate based on median price per square foot over the last two months) shows just how different the character of this year has been:
Submitted by Rich Toscano on May 24, 2013 - 9:48am
I recently updated the price-to-income and price-to rent-ratios for San Diego single family homes. I think these are the best metrics to determine whether homes are overpriced or underpriced based on their fundamental economic underpinnings.
It's also interesting to look at the ratio of monthly payments to incomes rents, but for a different reason. I'll get into this in a moment, but first let's check out the graphs:
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