The 2013 Real Estate Year In Review

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Historically low interest rates and limited inventory in 2013 fueled some of the greatest housing appreciation in San Diego County since the early 2000s. “Last year, we saw home values catch up to where they should have been if we didn’t have that market correction in the last of the 2000s,” said Mark Goldman, a loan officer and real-estate lecturer at San Diego State University. San Diegans bought 42,702 homes last year, a slight uptick from 2012 but the most since 2006, the last full year before the Great Recession. Last year was a great year for investors, who in June enjoyed 24.1 percent annual appreciation – a post-Great Recession record – to a median price of $420,000. Noncash buyers had a much harder time, routinely outbid by those who could write a check for a property.

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