San Diego – April 29, 2010
The newest Case-Shiller Index is out, and it seems to be good news for all San Diego homeowners.
The Case-Shiller index is maintained by Standard and Poors, and is generally regarded as one of the best home value reports in the nation. Although changes have recently been made to the report to reflect the seasonal fluctuations, this month’s report indicates that San Diego is among the few cities that have shown gains in housing prices.
Home prices rose 0.9% in February. Sound small? Well this increase is up 7.9% from last year, and compared with the other twenty cities measured in the report, shows that San Diego housing prices continue an upward, steady progression.
What was the other big news in this report? Well, home sales in the lower segment of the market have been brisk most of the year, with investors and first time home buyers snapping up homes to take advantage of the lower prices and great interest rates. But the news this month is that homes priced above $460,000 finally began to increase as well. The increase in value was a similar 0.9% increase, but this marks the first time in over 4 years that these homes have begun to show life.
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