San Diego annual home price gains up as of July

Home prices were up 2 percent annually in the San Diego metropolitan area as of July, said the S&P CoreLogic Case-Shiller Indices released Tuesday.

The increase was a slight turn of fortunes for the market, which has had annual gains of around 1 percent since January. Still, it is a far cry from the heyday of price increases the last couple of years. In July 2018, San Diego home prices were up 6.2 percent in a year.

Home price gains have slowed nationwide, up 3.2 percent in a year, with experts pointing to affordability issues as the main culprit. The most expensive markets have the most slothful gains, and Seattle has seen prices decline 0.6 percent.

Among California metro areas, San Diego had the biggest annual gains. San Francisco prices were up 0.2 percent in a year, and Los Angeles up 1.1 percent.

Some of the markets hit hardest by the Great Recession are now seeing the biggest boosts. Phoenix metro area gains were up 5.8 percent, followed by Las Vegas at 4.7 percent and San Francisco at 0.2 percent.

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