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San Diego metro real estate values have now plunged 40.8 percent from their peak in November of 2005, according to data from Standard & Poor's/Case-Shiller, released this morning (March 31). Local prices are back to their August 2002 levels. Indices for the top 20 markets track values for typical single-family homes. San Diego's index for January of this year was down 2.6% from December. By contrast, December had been down 2.1% from November. Compared with January of 2008, the San Diego index is down 24.9 percent. Only five metro areas did worse: Los Angeles (-25.8%), Miami (-29.4%), San Francisco (-32.4%), Las Vegas (-32.5%) and Phoenix (-35%). The top 20 metro areas were down a collective 19% in January. "Most of the nation appears to remain on a downward path," says economist David M. Blitzer of Standard & Poor's.
San Diego metro real estate values have now plunged 40.8 percent from their peak in November of 2005, according to data from Standard & Poor's/Case-Shiller, released this morning (March 31). Local prices are back to their August 2002 levels. Indices for the top 20 markets track values for typical single-family homes. San Diego's index for January of this year was down 2.6% from December. By contrast, December had been down 2.1% from November. Compared with January of 2008, the San Diego index is down 24.9 percent. Only five metro areas did worse: Los Angeles (-25.8%), Miami (-29.4%), San Francisco (-32.4%), Las Vegas (-32.5%) and Phoenix (-35%). The top 20 metro areas were down a collective 19% in January. "Most of the nation appears to remain on a downward path," says economist David M. Blitzer of Standard & Poor's.