City News Service
San Diego and Washington, D.C., were the only major U.S. markets to see a year-over-year increase in housing prices in the fourth quarter of 2010, according to the Standard & Poor's Case-Shiller Home Price Index released Tuesday.
The index compares the fluctuation of housing prices against a standard
established 11 years ago.
San Diego's index edged up 1.7 percent in the 2010 fourth quarter, compared to the same period the year before. With a base score set at 100 in January 2000, San Diego's index was at 158.97 in the last quarter of 2010.
The increase for the nation's capital was 4.1 percent from a year earlier.
Los Angeles and San Francisco, which generally gained in recent editions
of the index, were down this time by small margins.
The index as a whole, covering the nation's 20 largest housing markets, fell by 3.9 percent in the last quarter of 2010.
"We ended 2010 with a weak report," said David M. Blitzer, chairman of the Index Committee at Standard & Poor's. "The National Index is within a percentage point of the low it set in the first quarter of 2009. Despite
improvements in the overall economy, housing continues to drift lower and
Blitzer said California continues to fare much better than other sunbelt
areas. Las Vegas, Miami, Phoenix and Tampa all hit new lows in December.