The real estate market in San Diego County continues to move toward equilibrium. Appreciation is almost at a sustainable level with detached homes in North County showing a year-over appreciation of almost seven percent and those outside of North County almost eight percent. This isn’t the four to five percent appreciation that has historically been supported by income and inflation, but is getting close. It is certainly much more sustainable than the 22 percent price increase we experienced between July 2013 and July 2012.
July prices and sales in San Diego County were lower than they were in June, but our 3.5 month inventory is still tight and homes are selling quickly. Inventory is growing, but it hasn’t reached the five to six months worth of supply which usually indicates a balanced market.
To read the full housing statistics reports, click on the links below.
