Jeff Smith noon, March 8
SD Home Values Rise, Reports S&P
San Diego County home values rose by almost 0.9% in January compared to December, according to Case-Shiller/Standard & Poor's data released this morning (March 30). Collectively in 20 major metro areas, home prices rose 0.3% during the period on a seasonally-adjusted basis. Los Angeles prices were up 1.8% from December. Values in Phoenix, which have been extremely weak, rose by 0.8%. However, the picture on a non-seasonally-adjusted basis was not so encouraging, falling 0.4% in January from December. In only four cities did prices rise. David Blitzer, chairman of the S&P index committee, said the rebound in housing prices seen last fall is fading.