San Diego home prices have biggest gain in 6 years; third highest in nation

All cities in the S&P Dow Jones index reported higher price increases than the year before

San Diego home prices continued their climb in October, rising 11.6 percent — the highest in more than six years.

Prices in America’s Finest City increased the third fastest annually in the nation, the S&P CoreLogic Case-Shiller Indices reported Tuesday. Only Phoenix, up 12.7 percent, and Seattle, up 11.7 percent, had bigger gains.

The last time prices in the San Diego metropolitan area increased so rapidly was 12.4 percent in May 2014. Still, it is nothing compared to housing boom times when, in July 2004, prices were up 33.37 percent in a year (only to crash more than 26 percent four years later).

San Diego was not an isolated case in October. Substantial home price gains were reported throughout the nation. Prices were up 8.4 percent nationwide and all 19 metro areas in the index had faster increases than the same time last year.

https://www.sandiegouniontribune.com/business/story/2020-12-29/san-diego-home-prices-have-biggest-gain-in-6-years-third-highest-in-nation