Price-wise, the selling season cooled off quickly this year, with our San Diego Case-Shiller Index staying about the same in June.
Here are the San Diego NSA changes for 2015:
From the S&P press release, by David Blitzer:
A quarter-point increase in the Fed funds rate won’t derail housing. However, if the Fed were to quickly follow that initial move with one or two more rate increases, housing and home prices might suffer. A stock market correction is unlikely to do much damage to the housing market; a full blown bear market dropping more than 20 percent would present some difficulties for housing and for other economic sectors.”
Wondering what CSI-SD will look like for the remainder of 2015? Here are the non-seasonally-adjusted numbers from last year – let’s call it flat:
For those interested in the seasonally-adjusted numbers, the San Diego index in June declined by -0.23% month-over-month, and was +4.59% year-over-year.
Here is the SA graph – click to enlarge: