San Diego Home Prices
The latest S&P Case-Shiller Case Shiller Home Price Index report showed that for April the year over year home price appreciation in San Diego, California was 4 1/2%.
This increase in home prices was slightly below the average for the 20 city index tracked in this report. The average for the 20 cities tracked for April was 4.9% residential home price appreciation.
David Blitzer, at S&P Dow Jones, said while home prices continue to rise across the country, the pace of appreciation is not accelerating.
Considering that we are in the hottest seasonal time for the real estate market, I think the fact that Mr. Blitzer acknowledged that residential home prices are not accelerating, may be the first sign that perhaps a real estate home appreciation has actually topped out. Yes.
When the Federal Reserve Board actually makes their long anticipated move in increasing interest rates, I think there is a distinct possibility that San Diego home price appreciation may not only go flat, but really go negative.
More info from Case-Shiller.
