Report shows San Diego home prices rose in fall

San Diego was the only big city to post an increase in home prices this past fall, according to the Standard & Poor’s/Case-Shiller
Home Price Index released Tuesday.

Only three other big cities — Los Angeles, San Francisco and Washington, D.C. — posted year-over-year increases, starting in November 2009.

With all markets given a score of 100 in base year 2000, San Diego had an index score of 160.08 in November, a 0.1 percent increase over October and a 2.6 percent jump compared to November 2009, according to the report.

Nationwide, housing prices have stalled for about six months, leading the head of the S&P Index Committee to worry that the country might slip back into recession.

“A double-dip could be confirmed before spring,” David Blitzer of the index committee said. “Certainly nine cities are setting new lows (in housing prices), and with the only positive news concentrated in Southern California and Washington, D.C., the data point to weakness in housing prices.”

Thirteen of the top 20 housing markets have had at least seven months of price declines since the beginning of 2010, Blitzer said.

According to the report, housing prices in Las Vegas were down 57.2 percent in November from their August 2006 peak. Phoenix dropped 53.9 percent from its June 2006 high, and Miami prices fell 48.8 percent since December 2006.

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Posted by Kathy Day on Jan 25, 2011. Filed under News, Region. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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