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The “plain-vanilla” median price, less informative but more widely favored by analysts, posted a one-month decline of 1.9 percent for single family homes but was flat on the month for condos.
As discussed in the most recent entry, these countywide price statistics fail to express the degree to which the high-end markets have weathered the downturn better than the more affordable markets. Addressing this shortcoming is a work in progress. In the meantime, such broad indicators can at least tell us what is happening to San Diego’s housing market in aggregate — and in aggregate, it’s very clear that pricing pressure remains firmly to the downside.
— RICH TOSCANO