San Diego home price falls

San Diego home price falls

San Diego home price falls, The median price for a home in San Diego County fell from September to October, but the pace of annual appreciation still ticked up.

Last month, the county median price was $440,000, down from $445,000 in September, real-estate tracker CoreLogic DataQuick reported Wednesday. Despite the drop, the pace of annual appreciation increased from 5.5 percent in September to 6.6 percent in October because home prices fell by nearly $10,000 between those two months in 2013.

We’re heading into the holidays and so this is a time of year when things tend to slow down a bit anyway, said Mark Goldman, a loan officer and real-estate lecturer at San Diego State University. The market’s still a bit more stable than it was.

The pace of annual home price appreciation has been slowing since peaking at 24.1 percent in June 2013, led largely by investor activity such as foreclosure resales. It has been in the single digits since April, with activity in the market down each month compared to the same in the prior year. Last month’s 3,308 transactions were down 5.7 percent from October 2013.

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