San Diego home prices increases fall behind other Calif cities

San Diego County home prices in June increased 6.9 percent in a year, faster than the nationwide average but slower than other California cities, said the S&P CoreLogic Case-Shiller Indices released Tuesday.

Out of all the regions covered in the 20-city index, San Diego prices increased the eighth most in a year, tied with Tampa. Las Vegas had the biggest gain at 13 percent.

Nationwide home prices were up 6.2 percent, less than California on the index, including Los Angeles (7.4 percent) and San Francisco (10.7 percent).

San Diego had the second-slowest price increase of any city in the West, behind Portland with a 5.8 percent increase in a year. America’s Finest City spent several months in 2017 at the No. 3 spot on the index — outpacing other California cities and big markets like Denver, Boston and Atlanta.

“It’s a notable drop,” said Trulia economist Felipe Chacon. “It’s definitely not growing as quickly as these other places now.”

He said San Diego’s home price increases are still high, but wages in the region may explain why prices are going up slower than other California cities.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-case-shiller-20180828-story.html

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