A home for sale in Del Mar. Photo by Chris Jennewein

Home prices in San Diego rose one percent in March and are up 6.5 percent over the past year, according to the widely followed Case-Shiller index.

The numbers released Tuesday morning show San Diego home prices growing strongly — above the national average — but not as fast as in some metro areas.

In March, Seattle led the way with a 12.3 percent year-over-year price increase, followed by Portland with 9.2 percent and Dallas with an 8.6 percent increase.

“Home prices continue rising with the S&P Corelogic Case-Shiller National Index up 5.8 percent in the year ended March, the fastest pace in almost three years,” said David M. Blitzer, managing director. “While there is some regional variation, prices are rising across the U.S.”

“Sales of both new and existing homes, housing starts and the National Association of Home Builders’ sentiment index are all trending higher,” he added. “While prices cannot rise indefinitely, there is no way to tell when rising prices and mortgage rates will force a slowdown in housing.”

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Chris Jennewein

Chris Jennewein is Editor & Publisher of Times of San Diego.