San Diego has steady home price gains

“Home prices in San Diego County have risen nine straight months, ranking the local market second nationally for most consecutive months of price increases in 2012, said a leading housing report released Wednesday.

Phoenix, where prices rose 13 straight months and foreclosures have waned, beat out San Diego for the top spot, based on data from the S&P/Case-Shiller Home Price Index, which tracks 20 major areas in the country.

San Diego Association of Realtors“Phoenix went through a real difficult time where their values really, really went down, but it’s certainly been rebounding” said Donna Sanfilippo, president of the San Diego Association of Realtors. “San Diego, being a steadier market, placing No. 2 in rebounding shows that we’re leading our area after what has been a couple of rough years.”

San Diego home prices rose 1.3 percent from September to October, marking the ninth straight month of increases, based on the report, which has a two-month lag. When comparing October to the same time last year, prices went up 6 percent, the biggest year-over-year increase for an October in seven years.

Phoenix and Detroit saw the largest year-over-year jumps in home prices in October, 21.7 percent and 10 percent, respectively…”

Read the rest of this article by U-T San Diego here: “SD a top market for steady home price gains”.

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