SANTI, California – Rising house prices in early 2021 showed no signs of weakening in much of the country.
In the San Diego metropolitan area of the metropolitan area, prices rose 3.20 percent from February to March, according to the CoreLogic Case-Shiller index, one of the leaders in the housing market. Compared to March 2020, prices increased by 18.90%.
In the lower third of the San Diego-Carlsbad metropolitan area market (less than $ 685,000), prices, often designated as primary homes, rose 17 percent year on year. The first third of the market (homes over $ 930,000) saw a 21% increase.
The number of homes in the market remains at an all-time low, which has pushed up prices. The high demand for millennial housing, coupled with low interest rates, has further tightened the market. Timber prices are also higher than normal, which has raised the price of new construction.
According to national data, house prices increased by 11.3% in March 2021 compared to March 2020. CoreLogic Home Price Index. Apartment prices in March increased by 2% compared to February 2021.
The San Diego area is part of the San Diego-Carlsbad California Metropolitan Statistical Office, which the U.S. Census Bureau uses to designate areas with strong economic ties. Many MSAs contain more than one county.
Editor’s note. This message was automatically generated using CoreLogic Inc. Case-Shiller Index data analysis by the Associated Press. Please report any errors or other feedback [email protected]:,