2006 housing decline paints uneven picture

2006 housing decline paints uneven picture

County prices fall for first year in over a decade, but not all areas or types of housing feel pinch

By Roger Showley,Emmet Pierceand Lori Weisberg

UNION-TRIBUNE STAFF WRITERS
January 16, 2007

Areas with largest increases, declines


Home prices for 2006 (PDF)

San Diego County housing prices turned negative last year for the first time since 1995, DataQuick Information Systems reported yesterday.

Industry analysts said, however, that a further decline this year may not occur if interest rates stabilize, the local economy remains strong and buyers regain their confidence.

The overall median price of a home in the county last year slipped 0.8 percent, to $490,000, down from 2005's $494,000. The annual decline was the first since a 1.8 percent drop from 1994 to 1995, when the median stood at $166,000.

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It's hard to see, but there really IS a silver lining in that story. The reality is, we're in a REAL real estate market. Small gains, some areas "hotter" than others, and no "frenzy" to buy or sell.

What is needed now, is a little information. Call us, and we'll help you find out what is selling, and maybe some ideas for simple projects with big change.