The Case-Shiller index for March is out today, and San Diego came in ninth out of the top 20 cities for year-over-year decline:
|Town or Area||Y-O-Y|
But those numbers are for March, and are based on a three-month moving average – is there any break in the trend? Here is the chart of number of detached sales, and average $/sf for Carlsbad-to-Carmel Valley for the period April 15th to May 15th:
|Year||# of Sales||$/sf|
The 12% decline in average PPSF since last year was the biggest Y-O-Y negative change on the chart, so it doesn’t look like the Case-Shiller numbers will be letting up anytime soon.