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San Diego County home values rose 1.6% between July and August, although this was worse than the 2.5% increase from June to July, according to data released this morning (Oct. 27) by Standard & Poor's/Case-Shiller. Prices dropped 8.9% from August of 2008 -- one of the better performances among the 20 metro markets covered by the indices. During some of the worst months, San Diego year-over-year declines were more than 20%. Home values are now down 38.7% from the peak of November, 2005. S&P economist David Blitzer said that the rate of decline continues to improve nationally, and California is showing some marked improvement. Nationally, prices are back to where they were in autumn of 2003. However, he said on CNBC this morning that Southern California might not see a full recovery for five years.
San Diego County home values rose 1.6% between July and August, although this was worse than the 2.5% increase from June to July, according to data released this morning (Oct. 27) by Standard & Poor's/Case-Shiller. Prices dropped 8.9% from August of 2008 -- one of the better performances among the 20 metro markets covered by the indices. During some of the worst months, San Diego year-over-year declines were more than 20%. Home values are now down 38.7% from the peak of November, 2005. S&P economist David Blitzer said that the rate of decline continues to improve nationally, and California is showing some marked improvement. Nationally, prices are back to where they were in autumn of 2003. However, he said on CNBC this morning that Southern California might not see a full recovery for five years.