San Diego California Home Values Fall 16.7%

Yesterday, the S&P/Case-Shiller home-price index dropped 10.7 percent from January 2007, after a 9 percent year-on-year decrease through December 2007. This gauge has fallen for 13 consecutive months! The index was created by Robert Shiller, chief economist at MacroMarkets LLC and a professor at Yale University, and Karl Case, an economics professor at Wellesley College.

Home prices in Las Vegas and Miami fell the most of any region, at 19.3 percent year-over-year. Phoenix, San Diego and Los Angeles also suffered double-digit drops. The San Diego one year drop was 16.7% according to Case-Shiller.

This may be the time to consider purchasing San Diego real estate. Sure it's hard to buy into a down market, but, this is how the big profits are made! *To view the full post & chart, please visit the San Diego California real estate blog San Diego downtown condominiums