Housing prices were observed in twenty key real estate markets and contrasted with a group of one hundred set during January of 2000. This was done without noting a real average price of homes.
The monthly rise for the San Diego real estate market was 0.4%. Home prices were up by just under 6% from January of 2009 and January of the preceding year. The price index of just under 157 indicates an increase in price of approximately 56% during the last ten years.
Nationally, the numbers for the twenty large metro areas showed an increase in the price of homes over the last ten years of approximately 45%.
The report is varied, as the year over year statistics for the twenty metro areas show improvement; however, the upward trend in the price of homes that we saw during the fall of 2009 is beginning to fade.
A lower number of the areas showed increases on a month to month basis in January than did in the preceding month. Four areas actually experienced new low price figures.
The new home starts still stay at exceptionally low levels and the amount of sales tell us that the market remains thorny. The unease regarding potential foreclosures and a big so-called "Shadow Inventory" of homes that are not yet sold remains.
