San Diego home sales dropped 11.4 percent from Nov 2009 levels. On a somewhat positive note, it was the smallest downturn for single-family sales in 20 markets and much less than the 24.6 percent decline in the U.S.San Diego's median price of $391,700 was up 4.1 percent from November 2009, the sixth largest year-over-year increase. Washington ranked first at 9.5 percent, reaching a median $336,100. San Diego's overall price ranked second behind New York City.
Economists point to the recent slow down in sales because many buyers purchased homes earlier in the year to take advantage of federal homebuyer tax credits.
Economists point to the recent slow down in sales because many buyers purchased homes earlier in the year to take advantage of federal homebuyer tax credits.
Interest rates have been rising since the most recent low of 4.11 percent in early November to 4.83 percent as of last week. The latest interest rate figures will be released by Freddie Mac on Dec. 23, 2010.
