Our San Diego Case-Shiller Index has officially hit a flat spot.
The November, 2013 reading was 194.15, virtually the same as the previous month’s 194.07 number.
San Diego had the fourth-highest year-over-year total at +18.7%, but the majority of that frenzy-driven gain happened 8-12 calendar months ago (when appreciation was running 2%-3% per month).
| Month | ||
| March ’13 | ||
| April ’13 | ||
| May ’13 | ||
| June ’13 | ||
| July ’13 | ||
| August ’13 | ||
| September ’13 | ||
| October ’13 | ||
| November ’13 |
The market has been cooling off for more than six months. The index has steadily declined since the May, 2013 reading, which had measured the gains from March, April, and May (purchasing decisions made a year ago).
I think this is good news. The right column is more important than the left. If we can get through ’14 with no negative numbers yoy, I’d say it’s a very good year. Gotta build a base.
s cal real estate has made a many rich man.
Like jim says, making money comes from the buy side.
People who had the mojo to buy in 2009 2010 sure look smart now.