San Diego home price appreciation
In a it was shown that San Diego home appreciation continued in April at a rate of 5.3% over April 2014. Surprisingly, San Diego’s home appreciation was lower than the national average for April, which came in at 6.8%.
The fact that home mortgage rates remain under 4% has been a boost to the housing market and home appreciation throughout the country. The other main factor affecting home appreciation is the fact that here in San Diego there is a supply demand imbalance. There is a shortage of homes for sale creating a very tight market.
Also, in this report, it was shown that home price appreciation for the first four months of 2015, was up 9% over the same four-month period last year. Looking at the figures from this report, on a month-to-month basis, San Diego home prices appreciated 1.6% from March to April 2015.
Nationally, the March to April home appreciation was up 2.7%. The figures from this report factor in distressed sales, which include short sales and real estate owned by lenders.
As far as extremes go, the top state for year-over-year appreciation for April was South Carolina, which saw a huge 11.4% increase! Coming in at the other end of the scale, with the lowest home appreciation for this period was Massachusetts with a 1.7% depreciation!
On a year-over-year basis, here in California, we saw home appreciation at 7.1%.
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