San Diego County median home price was up 6.2 percent in the last 12 months
Southern California home prices continued to outpace the national average, and many major cities, said the S&P/Case-Shiller Home Price Index released Tuesday. Prices nationally, adjusted for seasonal variation, rose 5.2 percent in the 12 months ended in March, with the Pacific Northwest and West seeing the biggest gains.
San Diego County’s median home price increased 6.2 percent, lower than
the 6.4 percent increase
and 6.9 percent in January
… Economists said home prices continue to rise because of improved labor markets and employment rates, low mortgage rates and limited home supply.
Mark Goldman, finance and real estate lecturer at San Diego State University, said a slower rate of appreciation is a good thing. He said price increases of 3.5 percent to 5 percent are more sustainable. “If prices go up too quickly, then there is speculation in the market and that’s dangerous,” he said.