San Diego home prices outpaced all other West Coast markets in November

Home prices were up 3.9 percent annually in the San Diego metropolitan area in November, outpacing all other West Coast markets, the S&P CoreLogic Case-Shiller Indices reported Tuesday.

San Diego metro’s price gain slightly outpaced the national average gain of 3.5 percent, and was a substantial reversal after a sluggish start to 2019. From January to June, annual price gains locally were around 1 percent.

The index showed gains across most markets, which analysts mainly attributed to dropping mortgage interest rates. Other factors include low unemployment and tight home inventory driving up prices.

Low-cost markets had the biggest gains. Phoenix was up 5.9 percent, Charlotte up 5.2 percent and Tampa up 5 percent. Chicago had the lowest gain at 0.4 percent.

read more at: https://www.sandiegouniontribune.com/business/real-estate/story/2020-01-28/san-diego-home-prices-grew-fastest-on-west-coast-in-november

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