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Standard & Poor's/Case-Shiller homes values data for the period ended April 30 came out this morning (June 29), showing continued price gains by major metro areas. However, S&P economist David Blitzer says, "Many of the gains are modest and somewhat concentrated in California....The month-over-month figures were driven by the end of the federal first-time home buyer tax program on April 30th...Recently released data for May 2010 show sharp declines in existing and new homes sales and housing starts." San Diego values were up 0.7% in April from March. A number of cities did better. However, San Diego's one-year change of 11.7% was topped only by San Francisco's 18%. San Diego home values are now down 33.5% from their peak of November of 2005.
Standard & Poor's/Case-Shiller homes values data for the period ended April 30 came out this morning (June 29), showing continued price gains by major metro areas. However, S&P economist David Blitzer says, "Many of the gains are modest and somewhat concentrated in California....The month-over-month figures were driven by the end of the federal first-time home buyer tax program on April 30th...Recently released data for May 2010 show sharp declines in existing and new homes sales and housing starts." San Diego values were up 0.7% in April from March. A number of cities did better. However, San Diego's one-year change of 11.7% was topped only by San Francisco's 18%. San Diego home values are now down 33.5% from their peak of November of 2005.