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Making It in San Diego: Home values remain flat in San Diego, new report says

Posted: 2:35 PM, Jun 24, 2019
Updated: 2019-06-24 17:35:38-04
Dire outlook for San Diego's affordable housing

SAN DIEGO (KGTV) -- Home prices in the US fell in May while San Diego home prices remained flat and rents rose sharply, according to a new Zillow report.

Zillow says the median home in San Diego is now worth $591,000. In the US, the median home is worth $226,800, down 0.1 percent from April.

Overall, Zillow says home values in the US grew by more than 5 percent year-over-year.

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Meanwhile in America’s Finest City, median rents increased to $2,660, an increase of 4.6 percent year-over-year.

Some good news however, is that San Diego’s housing supply is increasing.

Zillow says inventory is up 11.5 percent year-over-year. This May, there were over 1,000 more homes on the market than last May.