Real Estate & Area News

San Diego Home Prices Continue to Climb

Home prices surged again in August in San Diego, according to a report issued Tuesday by S&P and Case-Shiller, following the same trend that was found in the national average. According to the report, the median home price in the San Diego area rose 6 percent, as compared with August 2015's median, outperforming price increases in New York, Chicago and Phoenix, but falling short of price jumps in Los Angeles and San Francisco. San Francisco led all of the 20 cities tracked by the S&P/Case-Shiller Home Price index with a year-over-year surge in values of of 10.7 percent, tied with Denver. Los Angeles edged out San Diego with a 6.2 percent increase in prices, mostly due to a lack of new home inventory in San Diego. With few new homes on the market, the existing share of the market has increased, slowing price growth.

October 27, 2015