San Diego Home Prices Drop
Tuesday, December 27, 2011
San Diego's home prices dropped 0.6 percent between September and October, and fell by 4.5 percent from October 2010, according to the latest Standard & Poor's Case-Shiller Home Price Indexes released today.
In the monthly index, 19 of the 20 markets tracked by S&P declined -- with Phoenix the only gainer. Home price decreases in most markets were worse than San Diego's performance.
Year-over-year, only Washington, D.C., and once-struggling Detroit posted increases in home prices. Nine cities performed better than San Diego on the annual price comparison.
S&P assigned the January 2000 average home price in each market a value of 100 and tracked the changes up or down ever since.
San Diego's index value in October was 152.86, behind only Washington, D.C, New York and Los Angeles, meaning home values in the region have appreciated nearly 53 percent in the last 11 years.
Only Detroit, Las Vegas and Atlanta, where prices plunged by 11.7 percent year-over-year, were under the original 100 value in October, according to the S&P.
The national index of 140.3 fell by 1.2 percent between September and October, and declined 3.4 percent from October 2010.