The Law Office of Michael E. Ripley

Exceeding Expectations

San Diego House Prices Up In Last Quarter of 2012

As set forth in an article in the San Diego Union Tribune newspaper (January 1, 2014), house prices were up in San Diego during the last quarter of 2012, but at a much slower pace than before. Home prices increased only 0.3% during the last three months of 2012, as compared to the 12 months before that, when the increase was 20.9%. Factors involved in the slow down include fewer distressed sales, a slow down in demand at the end of the year, and an increase in interest rates. The article goes on to state the expectation of a single digit annual price gains in the coming year, and interest rates are also expected to increase slightly.