Housing Prices Up 4.7 Percent From 2013 to 2014 - NBC 7 San Diego
Ignite San Diego

Ignite San Diego

Local business spotlight

Housing Prices Up 4.7 Percent From 2013 to 2014



    Housing Prices Up 4.7 Percent From 2013 to 2014
    NBC Bay Area
    The Silicon Valley Housing Trust reports 44,000 new jobs were created in the region last year. However, the report also said there were also only 8,000 available homes in the Silicon Valley, which has driven up housing prices due to the critical demand.

    An index measuring housing prices nationally showed San Diego’s prices increased 4.7 percent over a 12-month period from October 2013 to October 2014, or slightly better than a composite index for the 20 largest cities, which finished up 4.5 percent over the same period.

    The Standard & Poor’s/Case-Shiller Home Price Index report showed the San Diego region’s housing prices remained flat in October compared to September.

    For the 12 months from October 2013, the cities with the biggest housing price increases were Miami, at 9.5 percent, and San Francisco, at 9.1 percent.

    The cities with the lowest price increases were Cleveland at 0.9 percent, and Chicago, at 1.9 percent.

    David Blitzer, managing director of the committee at S&P Dow Jones Indices, said the recent housing data shows home prices have been rising at a slower pace in 2014 compared to 2013, but there are hints that prices will end on a strong note, and accelerate into 2015.

     Additional stories from the San Diego Business Journal are available here. Sign up for their free daily email newsletter.