San Diego fell off its perch as one of the top markets for home price gains in September.
The S&P CoreLogic Case-Shiller Indices reported Tuesday that San Diego metro saw a 25 percent home price gain in a year, making it the fourth fastest-growing market in 20-city index. It marked the first time in 13 months that America’s Finest City was not in the top three.
Phoenix was the top market, up 33.1 percent in a year. It was followed by Tampa, up 27.7 percent, and Miami, up 25.2 percent. San Diego metro (which includes all of San Diego County) was tied with Dallas for fourth, also up 25 percent.
While nationwide price gains are still substantial, up 19.5 percent on average, many experts looking at the closely watched index said there are signs the real estate market is cooling. September was the first time national price gains had slowed since May 2020.