Heat returns to San Diego housing market

Heat returns to San Diego housing market

Case-Shiller index shows robust price gains in January

Shaking off an autumn lull, San Diego County’s housing market returned to brisk price appreciation in January, posting its biggest gain for that month since 2004, according to the S&P/Case-Shiller index.

The price index increased 0.6 percent in January from December, compared to a decline of 0.1 percent the previous month. On a seasonally adjusted basis, January’s increase of 1.8 percent was the highest monthly price gain in the 20 U.S. cities measured by S&P/Case-Shiller, which is considered highly accurate because it captures repeat sales of identical homes.

San Diego posted the nation’s most improved year-over-year performance, at least from a seller’s perspective: January’s average was 19.4 percent higher than the same month in 2013, up from 18 percent in December.

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