EconoMeter: Are we facing a double dip in home prices?
Roger Showley, SAN DIEGO UNION-TRIBUNE
Sunday, June 5, 2011
Kelly Cunningham, National University System
The housing market reflects the weakness of the national economy and stagnant employment growth. Therefore, home sales and prices overall will likely continue floundering in 2011. San Diego’s housing market is somewhat better positioned for a variety of reasons – slightly improving economy, some job growth, constrained housing supply, perceived bargain price values, and highest affordability level in more than a generation. Although it could dip some more over the next few months, the Case-Shiller index is not likely to show San Diego falling to the April 2009 low. I anticipate the index will end the year relatively flat.