RECENT ARTICLES
San Diego home prices keep going up, outpacing other California cities
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego home prices continued to increase into COVID-19’s second month and grew at a quicker pace than other California cities. Home prices in the San Diego metropolitan area had risen 5.8 percent in a year, the S&P CoreLogic Case-Shiller Indices reported Tuesday. It was the highest annual increase since July 2018. Across the United States, home prices in April were up an average of 4.7 percent with experts attributing the rise to a shortage of homes for sale, low mortgage interest rates and high demand from...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego home prices continued to increase into COVID-19’s second month and grew at a quicker pace than other California cities. Home prices in the San Diego metropolitan area had risen 5.8 percent in a year, the S&P CoreLogic Case-Shiller Indices reported Tuesday. It was the highest annual increase since July 2018. Across the United States, home prices in April were up an average of 4.7 percent with experts attributing the rise to a shortage of homes for sale, low mortgage interest rates and high demand from...WW…
Forecast: San Diego rents to drop by 10%
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement A well-known real estate tracker is predicting a 10 percent drop in rents in San Diego County by the end of the year because of the economic fallout of COVID-19. CoStar says the average rent now, around $1,840 a month, should drop to roughly $1,664 a month by the last three months of 2020. Its analysis predicts a sluggish reopening to the economy that will keep many tenants jobless and unable to pay, and landlords having to cut rates to keep renters or attract new ones.It would be a historic decline considering...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement A well-known real estate tracker is predicting a 10 percent drop in rents in San Diego County by the end of the year because of the economic fallout of COVID-19. CoStar says the average rent now, around $1,840 a month, should drop to roughly $1,664 a month by the last three months of 2020. Its analysis predicts a sluggish reopening to the economy that will keep many tenants jobless and unable to pay, and landlords having to cut rates to keep renters or attract new ones.It would be a historic decline considering...WW…
In COVID's first month, San Diego home prices rose fastest in California
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego County not only saw prices increase in March during the first month of the COVID-19 pandemic, it outpaced all markets in California. Home prices in the San Diego metropolitan area had risen 5.2 percent in a year, the S&P CoreLogic Case-Shiller Indices reported Tuesday. It was the highest annual increase since last summer. Prices increased 4.4 percent nationwide even as millions of people started losing their jobs. All 19 cities in the index showed gains. Detroit was not included in March’s data...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego County not only saw prices increase in March during the first month of the COVID-19 pandemic, it outpaced all markets in California. Home prices in the San Diego metropolitan area had risen 5.2 percent in a year, the S&P CoreLogic Case-Shiller Indices reported Tuesday. It was the highest annual increase since last summer. Prices increased 4.4 percent nationwide even as millions of people started losing their jobs. All 19 cities in the index showed gains. Detroit was not included in March’s data...WW…
San Diego home sales plummet to level not seen in nearly 30 years
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement Housing sales in San Diego County had their biggest annual drop in nearly 30 years in May as COVID-19 brought the market to crawl. There were 2,327 home sales in May, down 40.7 percent from the previous year, said CoreLogic data provided by DQNews. Analysts point to a lack of consumer confidence and sellers pulling homes off the market to wait out for a better selling time as reasons for few transactions. It represents the biggest annual drop in home sales since January 1991 when sales were down by 41.5 percent....…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement Housing sales in San Diego County had their biggest annual drop in nearly 30 years in May as COVID-19 brought the market to crawl. There were 2,327 home sales in May, down 40.7 percent from the previous year, said CoreLogic data provided by DQNews. Analysts point to a lack of consumer confidence and sellers pulling homes off the market to wait out for a better selling time as reasons for few transactions. It represents the biggest annual drop in home sales since January 1991 when sales were down by 41.5 percent....WW…
Struggling to pay rent? San Diego to consider $61.9M relief fund
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego City Council is considering a nearly $62 million program to assist renters affected by COVID-19. The program, to be considered by the council Tuesday, would give up to $4,000 per household impacted financially or medically by the virus. Money for renters would come from funds already allocated to the city from the federal Coronavirus Aid, Relief and Economic Security, or CARES, Act. The city received $248 million from the legislation, which can be used for fairly open-ended purposes to assist in recovery...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego City Council is considering a nearly $62 million program to assist renters affected by COVID-19. The program, to be considered by the council Tuesday, would give up to $4,000 per household impacted financially or medically by the virus. Money for renters would come from funds already allocated to the city from the federal Coronavirus Aid, Relief and Economic Security, or CARES, Act. The city received $248 million from the legislation, which can be used for fairly open-ended purposes to assist in recovery...WW…
Amid COVID, San Diego home price hits highest ever: $600K
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement COVID-19 could not stop the upward pressure on home prices in San Diego County which reached a new high of $600,250 in June. The median home price in San Diego County crossed the $600,000 line for the first time in June, said CoreLogic data provided by DQNews. It represents a modest 1.7 percent price gain in a year but is still noteworthy as unemployment is at historic highs. The biggest factor in rising prices is sellers taking homes off the market during the pandemic and causing price wars among buyers. Other...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement COVID-19 could not stop the upward pressure on home prices in San Diego County which reached a new high of $600,250 in June. The median home price in San Diego County crossed the $600,000 line for the first time in June, said CoreLogic data provided by DQNews. It represents a modest 1.7 percent price gain in a year but is still noteworthy as unemployment is at historic highs. The biggest factor in rising prices is sellers taking homes off the market during the pandemic and causing price wars among buyers. Other...WW…
San Diego: In the days before COVID-19, home prices were near record high
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement In the days before COVID-19 entered American consciousness, home prices in San Diego climbed near record territory. The median home price in San Diego County was $590,000 in March, about $5,000 shy of an all-time high , according to CoreLogic data provided by DQNews. The data reflects purchases that began in late January and February because homes typically take 30 days to close escrow.Although the new coronavirus was already in the United States, it wasn’t until March that concern grew and a wave of stay-at-home...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement In the days before COVID-19 entered American consciousness, home prices in San Diego climbed near record territory. The median home price in San Diego County was $590,000 in March, about $5,000 shy of an all-time high , according to CoreLogic data provided by DQNews. The data reflects purchases that began in late January and February because homes typically take 30 days to close escrow.Although the new coronavirus was already in the United States, it wasn’t until March that concern grew and a wave of stay-at-home...WW…
San Diego County unemployment estimated at 27%
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement An estimate of San Diego County’s jobless rate near the end of April was 27 percent — surpassing unemployment numbers not seen since the Great Depression. The San Diego Association of Governments, or SANDAG, came up with the figure using federal and statewide data and applying it to San Diego County. During the Great Recession, the county hit a record high of 11.1 percent in 2010. While local records are not available that far back, the national rate during the Great Depression hit a high of 24.9 percent in...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement An estimate of San Diego County’s jobless rate near the end of April was 27 percent — surpassing unemployment numbers not seen since the Great Depression. The San Diego Association of Governments, or SANDAG, came up with the figure using federal and statewide data and applying it to San Diego County. During the Great Recession, the county hit a record high of 11.1 percent in 2010. While local records are not available that far back, the national rate during the Great Depression hit a high of 24.9 percent in...WW…
Nearly 1 in 4 San Diegans unemployed because of pandemic, analysis says
Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego County’s unemployment rate was an estimated 24.7 percent by the third week in April, said a new analysis, more than double the worst jobless rate of the Great Recession. The San Diego Association of Governments, or SANDAG, produced the estimate using the federal and statewide number of unemployment applications, and looking at what types of jobs have been lost. It then applied the figures to jobs data in San Diego County. SANDAG estimates nearly one in four San Diegans, about 430,000 people, are...…Copyright © 2022, The San Diego Union-Tribune | | AdvertisementAdvertisement San Diego County’s unemployment rate was an estimated 24.7 percent by the third week in April, said a new analysis, more than double the worst jobless rate of the Great Recession. The San Diego Association of Governments, or SANDAG, produced the estimate using the federal and statewide number of unemployment applications, and looking at what types of jobs have been lost. It then applied the figures to jobs data in San Diego County. SANDAG estimates nearly one in four San Diegans, about 430,000 people, are...WW…
Is San Diego at risk for a big downturn in housing?
San Diego County has very little chance of a big housing downturn but also isn’t exactly the most secure market in the nation, said a new report. Out of 580 counties, San Diego County was the No. 180 most likely to experience a downturn, said a study from Irvine-based real estate researchers Attom. It used a variety of factors to determine the rankings, including foreclosures, percentage of homes underwater, income-to-cost ratio and local unemployment numbers. This story is for subscribers We offer subscribers exclusive access to our best journalism.Thank you for your support. ...…San Diego County has very little chance of a big housing downturn but also isn’t exactly the most secure market in the nation, said a new report. Out of 580 counties, San Diego County was the No. 180 most likely to experience a downturn, said a study from Irvine-based real estate researchers Attom. It used a variety of factors to determine the rankings, including foreclosures, percentage of homes underwater, income-to-cost ratio and local unemployment numbers. This story is for subscribers We offer subscribers exclusive access to our best journalism.Thank you for your support. ...WW…
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