San Diego Home Price Gains Beat National Average, Index Shows

San Diego’s home prices rose 5.4 percent in the year ending in July 2015, according to an index measuring housing prices, edging out the national growth rate and recording some of the strongest long-term growth in the country.

The Standard & Poor’s/Case-Shiller Home Price Index on Tuesday reported home prices gained 5 percent in the top 20 cities, while the national average increase was 4.7 percent.

Case-Shiller also reported that the three cities with the largest cumulative price increases since 2000 were all in California, with prices in Los Angeles, San Francisco and San Diego more than doubling.

David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, said the index has been well above inflation for three years with growth concentrated in Western states.

“An interest rate increase by the Federal Reserve, now expected in December by many analysts, is not likely to derail the strong housing performance,” he said.

San Francisco, Denver and Dallas saw the most dramatic gains for the fifth month in a row, at 10.4 percent, 10.3 percent and 8.7 percent, respectively. Washington, D.C. and Chicago once again had the lowest growth, at 1.7 percent and 1.8 percent.
 

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