Our local Case-Shiller Index has slowed down considerably, rising just 1.3% over the last five readings. The September reading rose 0.057% – be prepared for an occasional negative reading from now on.

“The housing market has been favoring sellers for the past few years,” said Zillow Chief Economist Dr. Svenja Gudell. “Sellers in the current housing landscape often have the luxury of listing their home ‘as-is’ without fixing it up or with only minimal window-dressing since demand for homes has been high and inventory low. It’s common for sellers to receive multiple bids, and in the hottest markets, sell for over asking price, but these conditions will change in the future.”

The supply of homes for sale is still very tight, with six percent fewer listings in October than October of 2015 nationally, according to Zillow. Among the nation’s largest metropolitan housing markets, Boston, Indianapolis and Kansas City showed the biggest drop in inventory. In Boston there are 26 percent fewer homes for sale than there were a year ago, and 24 percent fewer in Indianapolis. Gudell predicts, however, that supply will slowly increase and home value appreciation will slow.

“We expect the market to meaningfully swing in favor of buyers within the next two to three years,” she said.

Here are the recent San Diego Non-Seasonally-Adjusted CSI changes:

The highest reading of the San Diego NSA CSI was 250.34 in November, 2005.