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HOUSING: San Diego County prices fall for second month

Case-Shiller Index Shows Nationwide Value Declines

Bradley Fikes, NORTH COUNTY TIMES

Tuesday, November 30, 2010

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Kelly Cunningham, an economist who has studied the San Diego region for more than 25 years, said local home prices are still relatively expensive, despite a substantial drop in prices since their peak about five years ago. That means there's room for prices to fall further, he said.
"We're still one of the least affordable housing markets, when you compare our median household income against the price of homes," said Cunningham, a senior fellow at the National University System Institute for Policy Research.