As reported by Standard & Poor’s, through the last 12 years the value of homes in the San Diego area has appreciated around 50%.
In March, the price of a home increased by 0.4%, when compared to the month of February as reported by the Standard & Poor’s Case-Shiller Housing Price Indices released this week.
A 12-month period that ended in March of 2012 showed a decline in residential real estate prices in San Diego of 2.7% as reported by Standard & Poor, which compared the average price of a house in twenty large cities across America beginning in January of 2000 and tracking the rise and fall each year.
At this time, San Diego’s Index is at 149.68. This figure shows the value of homes in the area appreciated close to 50% in the last 12 years. This increase is in 4th position with Los Angeles, New York, and Washington DC in the upper positions.
In the 20 big markets when combined the value stayed the same from February to March but was still 2.6% lower than the levels seen in March of 2011.
David Blitzer, chairman of the Index Committee at S&P Indices stated, "While there has been improvement in some regions, housing prices have not turned." He went on to explain that the results seen in March are mixed with less markets reporting poor results, however, no signs of a large real estate recovery.
The largest annual gain in value was seen in Phoenix Arizona, which was 6.1% with the largest drop in Atlanta, Georgia with a 17.7% decline from March 201.