For the third straight month, home prices in San Diego have fallen.
The median price tag in the region sits at just under $800,000, as San Diego — along with the rest of the nation — continues to show signs of a slowing market.
Despite the downward trend, overall home prices in San Diego are still up 10.2% over the past year.
A likely move from the Federal Reserve to hike interest rates is also expected to impact the market as U.S. Federal Reserve Chair Jerome Powell is expected to announce another interest rate hike Wednesday.
Phil Molnar, senior business reporter for The San Diego Union-Tribune, joined Midday Edition on Tuesday with more on the state of the local housing market.
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San Diego, along with the rest of the nation, continues to show signs of a slowing housing market. Then, the city of El Cajon says it’s standing behind its threats to fine local motels for accepting too many homeless residents.
