Zillow is reporting that San Diego prices are up 19.7% year-over-year, a trend that should continue for another couple of months. You can see here that prices started to increase last summer, which should put a statistical damper on the Y-O-Y percentage growth later this year:
If the 19% Y-O-Y trend continues on top of last year’s gains, it would mean 20% to 30% above 2011 pricing. If pricing stablizes over the next few months, the Y-O-Y percentages will show declines, to the delight of novice reporters in the media.
It is amazing how the market pyschology has changed throughout the west – even Stockton and Bakersfield are doing great!
Zillow Home-Value Index Y-O-Y Changes
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