Annual home price gains in the San Diego metropolitan area were below 1 percent for the first time since 2012, said the S&P CoreLogic Case-Shiller Indices released Tuesday.
San Diego metro home prices were up 0.8 percent in a year — a major change from one year ago when the market had seen a 7.8 percent annual increase.
April’s numbers reflect slowing price appreciation across the nation, which experts generally attribute to affordability issues after years of home costs outpacing wages. Nationally, home prices were up 3.5 percent with low-cost markets showing the biggest gains.
San Diego had the lowest price gain of the 20-city index, but Seattle had no price gain. Other slowed markets were Los Angeles, up 1.5 percent in a year, and San Francisco, up 1.8 percent in a year.
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