La Jolla Real Estate, Del Mar real estate, Rancho Santa Fe Homes, Carmel Valley Real Estate, University City and
Downtown San Diego real estate, homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






Search the San Diego MLS
(includes all areas in San Diego County)



 July 08, 2009

Home Prices Nationwide Show Drop in April
The Standard & Poor's/Case-Shiller Index measures housing prices across the nation. The index rated home prices in twenty major U.S. markets. Prices have fallen just over 18% on the average. This decline marked the third month in a row of falling prices which were not at record levels. In thirteen of the markets on the index, annual loses showed improvement compared to March 2009 figures.
The San Diego real estate market experienced the smallest decrease in April; less than 1%. Eight out of the thirteen markets housing price gains compared to March. The strongest gain was seen in the Dallas metro area, which reported a gain of nearly 2%. Every city on the index showed some signs of gain with the exception of the Charlotte, NC metro area.

A solid recovery of the overall housing market is still a ways in the distance. The figures measured on this index are down thirty-three percent from their peak which occurred in the 2nd quarter of 2006. Current levels are near 2003 numbers.

The Phoenix, AZ and Las Vegas, NV markets continue to be the hardest hit of the 30 areas on the index. In theses areas, home prices half fallen to more the one half of their value since their peak points.

This index measures resales of a specific group of home types in each city. Sales which occur between related parties such as members of a family are not included in the index measurements.