San Diego Real Estate Newsletter – November 2017 – Pete Saxon Realty

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Poway Home For Sale
Poway Home For Sale by Pete Saxon Realty

Midland Grove three bedroom, two bath single level twin home. Walk to elementary school, and Old Poway Park. Close to shopping, dining and entertainment.

October 31, 2017

County home prices up 7.8%

“San Diego had the third highest annual home price increase in the nation in August,” according to S&P Case-Shiller Indices and reported in the San Diego Union-Tribune. “Only Seattle and Las Vegas had bigger increases in the 20-city index.”

20 city home price index at all-time high

“The S&P CoreLogic Case-Shiller home price index rose more than expected in August, hitting an all-time high,” reports CNBC. “The latest report was a gain from the 5.9 percent increase in July.”

October 30, 2017

U.S. home prices slow first time buyers

“Home sales to first-time buyers dipped to 34 percent in 2017, the National Association of Realtors says,” reports Diana Olick of CNBC.  Her report continues,  “A big reason is the rise in student debt, which is crimping the finances of aspirational homeowners.”

October 24, 2017

Median Home Price Unchanged

San Diego County’s median home price was $535,000 in September, unchanged from August reports the San Diego Union-Tribune. “Sales hit a three-year low for September throughout Southern California, but the median home price was up 9.8 percent in a year in September to $505,000. The largest increase was in Orange County, at 10.9 percent, to a median of $710,000.”

October 20, 2017

U.S. existing-home sales up 0.7%

The National Association of REALTORS  reports, “Completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 0.7 percent to a seasonally adjusted annual rate of 5.39 million in September from 5.35 million in August. Last month’s sales pace is 1.5 percent below a year ago and is the second slowest over the past year (behind August).”

October 12, 2017

Sales, prices slower pace in 2018

The California Association of REALTORS predicts, “With the economy expected to continue growing, housing demand should remain strong and incrementally boost California’s housing market in 2018, though a shortage of available homes for sale and affordability constraints will be a challenge,”