Back in November, and then again in December, I predicted that San Diego had seen the bottom and we would continue to see small gains in home values in 2011.  Over the first quarter however, there has been a lot of talk and statistics about home prices falling nationwide and some folks seemed anxious to prove me wrong. 

Well this morning, I can happily say I was right.  The just-released Standard and Poors/Case-Schiller Home Price Index for January reveals a 1.00% decrease in home values over the previous month…….except for two cities, Washington, D.C. and San Diego!  The index tracks values in 20 cities and overall, values were down 3.10% over January 2010 – only Washington, D.C., and San Diego showed a year-to-year gain.

So, to all of you who are waiting to buy in San Diego, fearful that values will continue to drop, pay attention.  Now is the time to buy….unless of course you want to pay 2.00-4.00% more at a higher interest rate a year from now.  Just a thought.

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