David Blitzer, chair of the Index Committee at S&P Dow Jones, said while home prices continue to rise across the country, the pace of appreciation is not accelerating.
“Recent housing data is positive,” he said. “Sales of new and existing homes are rising in recent reports and construction of new homes enjoyed strong gains in May. At the same time, the proportion of new construction that is apartments rather than single family homes remains high.”
Since September, San Diego County home prices have grown between 4.5 and 5 percent annually. The area’s housing market has slowed since the summer of 2013, when fix-and-flip foreclosure resales paced the market with 21 percent returns. Since then, analysts say the market has been paced by traditional factors such as wages, employment, and supply and demand.
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