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.