The median price paid for a Southern California home passed $500,000 for the first time last month as sales continued to decline, the result of higher mortgage interest rates and a real estate cycle that has passed its frenzy phase, a real estate information service reported.On San Diego, DataQuick noted:
"San Diego County is still the market furthest along in this cycle."DataQuick reported that prices in San Diego increased 5.7% on a YoY basis. However, for the first quarter, prices declined 2.3% in San Diego.
So far, DataQuick is only showing quarterly price declines in San Diego and Ventura counties in Southern California.