Housing prices in San Diego have risen 4.8 percent over the past year, slightly higher than the national rate of 4.4 percent, according to the closely followed S&P/Case-Shiller Home Price Index.
Case-Shiller on Tuesday released the 20-city index for May, which showed a rise of 0.9 percent in San Diego and 1.1 percent nationally from April.
“Nationally, single family home price increases have settled into a steady 4 percent to 5 percent annual pace following the double-digit bubbly pattern of 2013. Over the next two years or so, the rate of home price increases is more likely to slow than to accelerate,” said David M. Blitzer, managing director of S&P Dow Jones Indices.
He noted that home prices are rising about twice as fast as inflation or wages and first-time homebuyers are a weak spot in the overall market.
The greatest increase in home prices over the past year, according to Case-Shiller, were seen in Denver at 10 percent and San Francisco at 9.7 percent.
