County Home Values Continue to Fall

By Lindsay Hood
|  Tuesday, Dec 28, 2010  |  Updated 12:00 PM PDT
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$12.5M for a Modern Glass House in Montauk

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PASADENA, CA - APRIL 23: A sign advertises a house for sale on April 23, 2009 in Pasadena, California. About half of all homes sold last month were sold to first-time homebuyers but hopes of a Spring recovery in the housing market were dampened by a report by the National Association of Realtors that existing home sales fell 3 percent in March despite near-record-low mortgage rates and home prices that are the lowest in years. The median sales price in March was $175,200, down from $200,000 a year ago. (Photo by David McNew/Getty Images)

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The value of home across the county fell for a third consecutive month in October, the North County Times reported, but the values are up for the year.

The resale value of a home fell by 1.5 percent from September, but values were up by 3 percent from October 2009, the paper said.

The median house prices in North County during the month of October was $465,000, which was down 2.1 percent from November and up 8.1 percent from October 2009, the paper said.

The decline in October's Case-Shiller Index practically reversed the impact of a federal tax credit that stimulated the house prices in the second half of 2009 and the first half of 2010, the paper said.

Despite the falling numbers, San Diego real estate agents said December was unusually busy for home buying across the region.
 

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