Early this week the local media were announcing that the drop in home values may be reversing. This overly optimistic view was sparked by the news that the median sales price increased in October over September value.
But, facts which were generally downplayed were:
The median price for single-family re-sale homes fell for the fifth month in a row, down 2.8% from the month before.
Year-over-year, the median price is down 4.3%.
Home sales rose 3.7% from September, but were down 22.8% compared to October 2005.
Year-to-date home sales are off 26.6%. downtown San Diego real estate
[tags] San Diego real estate, downtown real estate, California real estate[/tags]
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