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There is one piece of good news in the Zillow.com report released this morning (Nov. 8). Nationally, 28.6% of single-family mortgages are underwater (more debt on a home than it is worth). The San Diego number is 25.8%. Otherwise, the news is not good for San Diego. Home values here declined 1.4% from the second quarter to the third, versus a 0.2% fall for the nation. SD values are down 5.8% from a year ago, compared with minus 4.4% for the nation. Values here are down 35.9% from their peak, compared with the nation's 28.8% fall. San Diego's median home value is $344,000. Of the largest 25 markets, only San Francisco, Los Angeles, and New York top that.
(stock photo)
There is one piece of good news in the Zillow.com report released this morning (Nov. 8). Nationally, 28.6% of single-family mortgages are underwater (more debt on a home than it is worth). The San Diego number is 25.8%. Otherwise, the news is not good for San Diego. Home values here declined 1.4% from the second quarter to the third, versus a 0.2% fall for the nation. SD values are down 5.8% from a year ago, compared with minus 4.4% for the nation. Values here are down 35.9% from their peak, compared with the nation's 28.8% fall. San Diego's median home value is $344,000. Of the largest 25 markets, only San Francisco, Los Angeles, and New York top that.
(stock photo)