Home prices in San Diego rose 6.4 percent during the year ending in February, according to a housing market index, as price increases nationwide began to slow.
The Standard & Poor’s/Case-Shiller Home Price Index on Tuesday reported home prices gained 5.4 percent in the country’s top 20 cities, while the national average grew 5.3 percent.
But home price increases are starting to slow, with 13 of the top 20 cities posting weaker gains than the month before.
“Home prices continue to rise twice as fast as inflation, but the pace is easing off in the most recent numbers,” David Blitzer, index committee chairman at S&P Dow Jones Indices, said.
Portland and Seattle again saw gains of more than 10 percent, with 11.9 percent and 11 percent growth, respectively. Washington, D.C. and Chicago had the slowest growth, with increases of 1.4 percent and 1.8 percent, respectively.