San Diego: Real Estate Price Gains Keep Slowing

The yearly growth in home prices continued to slow in real-estate markets across the United States in June, and San Diego’s was no exception.

The S&P/Case-Shiller Home Price Index showed Tuesday that from June 2013 to June 2014, home prices in San Diego rose 10.2 percent. That continues a steady decline in the pace of annual appreciation since it peaked at 21.5 percent in August 2013, when investor-related activity spurred a run-up in prices as the market corrected post-Great Recession.

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Mark Goldman, a loan officer and real-estate lecturer at San Diego State University, said the market’s return to normalcy has made for a markedly slow summer season as there’s less pressure to buy.

“If you were contemplating buying a house, and prices were going up 1 percent a month, you’d go in as quickly as possible,” he said. “There’s not a lot of consequence to just wait until it’s an opportune time for you.”

The 20-city index, which lags two months, compares repeat sales of single family homes. Overall, the national index rose 8.1 percent year-over-year. San Diego’s annual gain ranked it fifth behind Las Vegas, Miami, Los Angeles and Detroit.

read more at: http://www.utsandiego.com/news/2014/aug/26/case-shiller-real-estate-june-homes-mortgages/

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