San Diego home prices were 5.9 percent higher in August than a year ago, a bigger increase than the national average, according to the widely followed Case-Shiller index.
The latest S&P/Case-Shiller U.S. National Home Price Index released Tuesday showed a a 4.7 percent annual increase in August for all parts of the United States.
While San Diego prices grew more than the national average, some large metropolitan areas had even bigger gains. San Francisco and Denver reported the highest year-over-year growth with price increases of 10.7 percent each.
Growth in home prices in San Diego appeared to slow in the summer, however. Prices grew 1.2 percent between June and July, but only 0.3 percent between July and August.
“Home prices continue to climb at a 4 percent to 5 percent annual rate across the country,” said David M. Blitzer, managing director for S&P Dow Jones Indices. “Most other recent housing indicators also show strength.
“Housing starts topped an annual rate of 1.2 million units in the latest report with continuing strength in both single family homes and apartments.” he added. “The National Association of Home Builders sentiment survey, reflecting current strength, reached the highest level since 2005, before the housing collapse.”
Here’s how much home prices increased over the past year in major U.S. metropolitan areas:
- San Francisco — 10.7 percent
- Denver — 10.7 percent
- Portland — 9.4 percent
- Dallas — 8.9 percent
- Seattle — 7.6 percent
- Miami — 7.4 percent
- Los Angeles — 6.2 percent
- Tampa — 6.1 percent
- Las Vegas — 6.0 percent
- San Diego — 5.9 percent
