San Diego Home Prices Rise 7.3% in a Year

San Diego region’s home prices rose 7.3 percent in the past year, according to the latest data in the S&P CoreLogic Index released July 31st. As prices continue to rise, homeownership becomes even more out of reach. The increasing cost of housing in San Diego is making it more and more difficult for the region’s workforce to find homes that suit their needs. When employees are priced out of San Diego and are forced to look to areas outside the region where housing is more affordable, our employers, regional workforce and economy all suffer. The S&P CoreLogic Index is widely viewed by economists as the gold standard metric for housing prices as it evaluates home prices by tracking repeat sales of single-family houses as they turn over through the years.