This year’s month-over-month gain in San Diego is about half of what it was in February 2018 & 2019.
“The big question now, is how quickly the home listings will awaken after the pause or will unemployment drag down purchase activity going forward. If buyers come back faster than sellers, it could cause prices to push even higher as buyers compete over the slim choices.”
Bill Banfield, Quicken Loans Executive Vice President of Capital Markets
San Diego Non-Seasonally-Adjusted CSI changes:
“Results for the month were broad-based, with gains in every city in our 20-City Composite; 17 of the 20 cities saw accelerating prices,” said Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices.
Price gains continued to be strongest in Phoenix, Seattle, Tampa and Charlotte. In February, Phoenix home values were up 7.5% year over year, followed by Seattle with a 6% increase, and Tampa and Charlotte with 5.2% increases. Chicago, New York and Dallas saw the smallest annual price gains at 0.7%, 1.5% and 2.5% respectively.Link to CNBC article