by Calculated Risk on 12/18/2007 03:42:00 PM

The Union Tribune has a graph of house prices in San Diego based on the DataQuick numbers released earlier today: Home prices tumble

Click on graph for larger image.

This graph from the Union Tribune article shows the median home price in San Diego has declined 15% from the peak in November 2005, and has now returned to early 2004 pricing.

From an earlier post, this graph shows the round trip for 15% and 30% nominal national price declines for the S&P/Case-Shiller U.S. National Home Price Index and the OFHEO, Purchase Only, SA index.

A 15% nominal price decline would take prices back to late 2004 for both indices. A 30% price decline for Case-Shiller would take prices back to mid-2003; 30% for OFHEO would take prices back to late 2002.

For San Diego, the Case-Shiller index through Sept 2007, shows prices have declined to below the July 2004 level (very similar to the DataQuick numbers). Not all areas will see the same price declines, but these round trip graphs will probably become common.