San Diego home prices fell in November for the fourth consecutive month, according to the authoritative Case-Shiller report.
The report released Tuesday morning showed a 0.6 percent decline in November, following a 0.2 percent drop in October.
The latest decline in local home prices comes as the housing market cools across the United States.
“Home prices are still rising, but more slowly than in recent months,” said David M. Blitzer, managing director at S&P Dow Jones Indices. “The pace of price
increases is being dampened by declining sales of existing homes and weaker affordability.”
Other West Coast cities, including Los Angeles, Portland, San Francisco and Seattle, also experienced home price declines in November.
“Sales peaked in November 2017 and drifted down through 2018,” said Blitzer, but he noted that a low inventory of homes for sale continues to support prices.
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