In July 2017, when we were home shopping, I started to monitor—and occasionally write about—the local housing market. The next month, countywide, median price for a single-family residence reached $610,000, according to San Diego Association of Realtors. Fast-forward six years and $1,025,000 is median, according to SDAR, which released the data yesterday.
By my quick math, that’s a 68-percent increase, which makes homeownership an outstanding investment for anyone owning before SARS-CoV-2 (severe acute respiratory syndrome Coronavirus 2)/COVID-19 lockdowns in early 2020 or increased interest rates this year and last. For anyone else not fairly wealthy, the choices are rent, move, or live on the streets—something of an increasingly common lifestyle.