“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.
“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”.