July 17, 2024
San Diego home prices
San Diego home prices

San Diego County home prices fell in September for the second month after 15 consecutive monthly increases, according to Standard & Poor’s Case-Shiller Home Price Index report.

The resale home   value of a typical house fell 1 percent in September from August. The value had dropped 0.6 percent in August from July.

However, September’s home price was still 5 percent above that of a year ago, according to the index, which reports home prices for 20 cities and the nation as a whole.

San Diego County houses priced under $314,451 slipped 0.9 percent from August; houses priced from $314,451 to $474,176 dropped 2 percent in value; while those priced above $474,176 rose 0.5 percent in value.

The national quarterly index, which measures home prices in the nine U.S. census regions, dropped 2 percent in the third quarter from the previous quarter.

“While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market,” the monthly report stated.

San Diego Realtors