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Zillow.com predicted today (July 23) that national home values will rise 5 percent between the second quarter of this year and the second quarter of next year. But San Diego County home values will zoom 9.3%, although that will lag Los Angeles (11%), San Francisco (10.6), Riverside (16.6), and Sacramento (18.9). San Diego will top San Jose (8.1%), but median prices in San Jose (essentially Silicon Valley) are $714,900 now, while in San Diego they are $417,600. San Diego values rose 4.6% in the second quarter, almost doubling the nation's 2.4%, and 21.2% compared with a year ago, one of only 7 metro areas topping 20%.
Zillow predicts that the rate of price appreciation nationally at some point will slow as speculators cool off and more inventory comes on line.
Zillow.com predicted today (July 23) that national home values will rise 5 percent between the second quarter of this year and the second quarter of next year. But San Diego County home values will zoom 9.3%, although that will lag Los Angeles (11%), San Francisco (10.6), Riverside (16.6), and Sacramento (18.9). San Diego will top San Jose (8.1%), but median prices in San Jose (essentially Silicon Valley) are $714,900 now, while in San Diego they are $417,600. San Diego values rose 4.6% in the second quarter, almost doubling the nation's 2.4%, and 21.2% compared with a year ago, one of only 7 metro areas topping 20%.
Zillow predicts that the rate of price appreciation nationally at some point will slow as speculators cool off and more inventory comes on line.