The latest report from the S&P Case-Shiller Index shows that many of the 20 cities included in the real estate market index are facing a “double dip” meaning that their prices bottomed out in 2009 and started rising, only to have fallen again in the last quarter of 2010.
Fortunately, San Diego’s prices rose 1.7% from the last Qtr of 2009 compared to the same period last year. San Diego was one of only 4 cities among the 20 to actually increase from 2009. That is likely because San Diego’s price peak was in December 2005 – sooner than many other markets. The market here has been declining more rapidly for a longer period and the recovery has been more slow and steady.
Check out the article and let me know your thoughts.
Kevin P. Cummins, J.D., SFR / Diane C. Cummins Certified Relocation Specialist Broker Sales Associate | REALTOR®
Coldwell Banker Residential Brokerage
3810 Valley Centre Drive #906 San Diego, CA 92130 C: (858) 750-9577 F: (858) 793-9944
CA DRE Lic. # 01812762
