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SD Case-Shiller, Sept 2012

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
Jun
$368/sf
Jul
$366/sf
Aug
$381/sf
Sept
$372/sf
Oct
$387/sf
Nov
$419/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!

Case-Shiller Home Price Index: San Diego, CA Chart [1]

Case-Shiller Home Price Index: San Diego, CA [2] data by YCharts [3]