San Diego Home Prices Rise Quickest in Nation
San Diego is making news once again – this time with the fastest rate of increasing home prices in the country. While this may not come as news to buyers out there trying to get into contracts with the (still but slightly lessening) low levels of inventory, what else is important to know about this phenomenon?
According to the S&P Case-Shiller Index the annual increase in home price in the San Diego metro area rose to 8.8% according to the December 2023 annual report. This is the first time in close to 20 years that San Diego tops the list for rising prices in the U.S. With only a 2.6 month supply of inventory and a 22 day median market time, buying a home can still be a bit challenging, but inventory levels seem to be increasing slightly as we head into Spring – good news for buyers.
Check out the data in the link below to learn more about what is going on in the San Diego County market at this time.
