San Diego sees declining housing prices, bucks national trend

Standard & Poor's Case-Shiller Home Price Index was released August 28 and revealed that housing prices in the top 20 major metros increased in June 2012 when compared with June 2011. However, prices of houses for sale in San Diego County went against the national trend and actually fell in June 2012 when compared with June 2011, an article in the North County Times detailed.

Specifically, house prices in San Diego County fell 0.19 percent in June 2012 compared with last year. Comparing home prices with 2005, before the market collapsed, house prices in June 2012 were down 38.2 percent. However, when compared with 2009, which was when the market was at a "post-bubble low," house prices are up 7.2 percent.

The North County Times reported that a real estate industry association revealed that June was a particularly strong month for the northern San Diego real estate market. The newspaper stated, "The median house price rose 4.7 percent in North County on an annual basis to $470,000, and sales rose 21.6 percent."