San Diego’s non-adjusted Case-Shiller Index for September increased for the eighth month in a row, and was +1.4% higher than the previous month – which was the biggest M-O-M gain of the year.
The latest reading of 160.09 was +4.1% higher than September, 2011, and the largest number since September, 2010 when we hit 162.43.
The local momentum should continue too, if our CSI follows the NSDCC trend:
|2012||Detached-Home Avg. $/sf|
In the early going of 2013, expect fewer sales due to sellers going crazy-high with their list prices to test the market – and buyers picking off the cheapest only because they are the lowest-priced homes for sale, not because they are priced lower than comps.
Here is the percentage-change graph for the last ten years – we’re positive again!