With September starting on Friday, the June report feels a bit historical, especially when it is a weighted three-month average. But it shows that the first half of 2017 was strong sellers’ market in San Diego:
San Diego Non-Seasonally-Adjusted CSI changes:
At this rate (+5.4% in six months), we’re going to set a new record this year!
The highest reading of the San Diego NSA CSI was 250.34 in November, 2005.
The most-recent low point was 144.43 in April, 2009.
“The trend of increasing home prices is continuing,” David Blitzer, chairman of the S&P index committee, said in a statement. “Price increases are supported by a tight housing market” with both the number of homes for sale and days a house is on the market declining for the past four to five years.
“Rising prices are the principal factor driving affordability down,” Blitzer said.