San Diego Home Prices
The S&P Case-Shiller Report tracks real estate prices in 20 major metropolitan cities. Today, the February 2014 Case-Shiller Report was released, and it showed that as far as month to month average home prices, San Diego recorded the highest gain at up 1%! Following close behind, were Portland, Oregon, Seattle, San Francisco, Los Angeles and Washington, DC.
The city with the largest month-to-month decline was Cleveland, Ohio, where home prices dropped 1.6%!
Now, when it comes to the largest year-over-year home price increases, the February Case Shiller report showed that Las Vegas came in first place. In Las Vegas, average home prices were up 23.1% in February as compared to February 2013. Coming in second and third place for year-over-year average home appreciation, were the cities of San Francisco and San Diego.
Overall, average home prices for all 20 cities tracked in the report were up 12.9% on a year-over-year basis. It’s not time to celebrate yet, as David Blitzer, chairman of the S&P Dow Jones index committee, said: “Despite continued price gains, most other housing statistics are weak. The recovery in housing starts, now less than one million units at annual rates, is faltering. Moreover, home prices nationally have not made it back to 2005.”
