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Home Prices Hit a 5 Year High

Sales Increase“San Diego County home prices have hit the highest level in five years, as distressed sales continue to fall and mortgage rates are still near record lows.

The median price of a home sold in April rose to $400,000, up 21 percent from the same time a year ago, reported San Diego-based real estate monitor DataQuick on Tuesday. Last month’s median price matched the median in April 2008. The all-time peak was $517,500 in November 2005. Sales rose 7 percent from a year ago to 3,792.

The county has seen double-digit annual increases for the past eight months, prompting some concerns of a lead-up to another housing bubble…” For Full Story- Click Here

Source: San Diego Union Tribune

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