Mortgage rates have been 1% lower than they were a year ago, yet sales are flat….and so are prices. We had a 2.3% improvement year-over-year, which is actually the best percentage improvement in 2019. But look at how our Y-o-Y changes have pancaked this year, compared to 2018:
San Diego Non-Seasonally-Adjusted CSI changes:
This latest month-over-month reading did go negative again, just like it did in August of last year. Will we have six consecutive months of negative readings in 2019, and send our index back into the 250s? If so, 2020 will probably look a lot like 2018 and 2019, price-wise.