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San Diego Home Prices Up For Ninth Straight Month

Aired 12/26/12 on KPBS News.

Home prices were up for a ninth straight month in San Diego this October.

— San Diego home prices rose for a ninth straight month in October. Thursday's Case-Shiller Home Price Index shows a continuing recovery in housing markets across the country.

San Diego Home Prices Up For Ninth Straight Month
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San Diego home prices were up 6 percent this October compared with the same month last year. Prices were also 1.7 percent higher in October than they were in September. In the 20-city Case-Shiller Index, only Las Vegas had a larger seasonally adjusted month-to-month gain.

San Diego’s steady increases put it on better footing than other cities, according to David Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices.

“San Diego, I think along with Los Angeles and to a small extent San Francisco, had prices go up quite a bit, came tumbling down like everything else did," Blitzer said. "But has mounted what I would say is a solid recovery at this point.”

Blitzer said tightened lending guidelines still pose a challenge for the housing market here and across the country.

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