Welcome to the DevoreRealtyGroup.com Blog

2012-09-29 08:33:58
Reports on Home Prices

It's All Good News!

In the last couple of weeks there have been several reports on housing prices, both nationally and locally.  Some of the reports have a greater lag in their reporting data than others, but the general theme throughout the reports is that they have been universally positive: 

HomeDex Report 

The monthly HomeDex Report, created by a CSU San Marcos Professor, details housing prices for North County as well as the entire San Diego County.  According to the latest report, the median housing price in North County rose from $395,000 in July to $405,000 in August.  The median price for the entire county rose from $355,000 to $359,000.  While not huge increases, they are in fact increases. 


CoreLogic, a Santa-Ana based company that provides real estate data, reported numbers for July.  In its monthly report, nationwide prices were up 3.8% over last year (the largest year-over-year gain in 6 years!) and 1.3% from June.  In California, prices were up 4.4% from the same period a year ago.  Live in Arizona?  Housing prices there rose a remarkable 16.6% from last year! 

S&P/Case-Shiller Index 

The Case-Shiller Index, which looks at home prices in 20 metropolitan areas throughout the nation, reported that home prices in July were up 1.2% versus July of last year.  This is the second straight year-over-year gain after 2 years when there were none!  For the third straight month, prices in all 20 areas rose from the previous month.  This is definitely a positive trend!  The S&P/Case-Shiller index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The July figures are the latest available.

FHFA House Price Index 

FHFA, which reports on purchase prices for homes financed by loans backed by Fannie Mae and Freddie Mac, said that Nationwide prices were up 0.2% in July compared to June.  For the 12 months ending in July, prices were up 3.7%. 

Don’t expect a huge recovery in prices anytime soon 

The news is all positive for housing prices.  But, how long will it take for prices to reach the levels they hit at the peak of the market a few years ago?  According to Fiserv, an analytics company, prices nationally will increase an average of 3.7% per year for the next 5 years.  At that rate, prices won’t reach their highs until sometime in 2023.  California may fare better – Fiserv expects prices here to increase 4.4% annually.  However, we were in a deeper hole to begin with. 

It’s all about baby steps – and we’ll take them! 


Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

North San Diego County and Carlsbad Real Estate 

              • Search for your next home on our website
              • Learn more about Rancho Carrillo in Carlsbad, CA
              • Like” our Facebook page
              • Follow us on Twitter
              • View our listings on YouTube
Blog Archive
2017-04-21 06:42:10
Why are renters staying put?

2017-04-20 06:49:29
Homeowner Value Estimates vs. Appraisals

2017-04-09 07:26:48
San Diego 8th Hottest Real Estate Market

2017-04-03 13:29:11
8 Questions to Ask When Deciding to Rent or Buy

2017-03-31 17:41:05
San Diego rent prices vs. home prices

2017-03-24 13:33:28
Preparing Your Budget for Buying Your First Home

2017-03-24 10:02:40
San Diego home prices dip in February

2017-03-15 17:54:30
County Housing Patterns Shifting

2017-03-03 11:32:47
Where millennials want to live might surprise you

2017-02-27 13:41:52
Misleading Math Behind the Rent vs Buy Calculation

2017-02-24 10:38:59
Older Americans Face Challenges Aging in Place

2017-02-21 15:12:32
Moving Less in U.S.: American Dream Takes a Hit

2017-02-07 13:52:11
Millennials, Housing, and the American Dream

2017-02-01 11:50:46
20 Hottest Markets for U.S. Real Estate in January

2017-01-31 18:13:12
January, February Prime Months to Purchase a Home

2017-01-26 14:47:42
Home Buyer Challenges for 2017

2017-01-19 12:21:59
Nation's Priciest House: $250M

2017-01-13 14:17:03
Are local housing's price gains real?

2017-01-13 12:06:22
Housing Outlook 2017: Eight Predictions

2016-12-30 11:05:38
Trump Win Could Usher in Boom for U.S. Housing

2016-12-19 18:12:11
Is the Starter Home Coming Back?

2016-12-19 17:28:35
Interest rate increased, where will consumers feel

2016-12-19 16:47:51
Step Aside HAMP, There's a New Kid in Town

2016-12-08 17:45:40
Marketwatch Report November 2016

2016-12-08 17:10:21
FHA Loan Limits To Rise in 2017

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.