Median value in May falls 23% from a year earlier
By Mike Freeman
STAFF WRITER
June 17, 2008
Home prices continued to tumble in San Diego County last month, with the median reaching its lowest level – $380,000 – since September 2003.
A trio of factors – surging foreclosures, tougher lending standards and a weak economy – further pressured prices and demand for housing, according to La Jolla-based DataQuick Information Systems. May's median price was down nearly 23 percent from a year earlier.
It's no secret that the county's housing market has been sliding for a several years. Experts have been combing data trying to predict when it might end, but so far there's little evidence of a rebound.
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Median value in May falls 23% from a year earlier