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San Diego County home values inched up 0.1% in July from June, according to Standard & Poor's/Case-Shiller released this morning (Sept. 27).

That compares unfavorably with a 0.9% gain for the top 20 metro areas, and is less than the 0.2% rise in June from May. Over the last 12 months, San Diego home values are down 5.9%, a worse performance than the 4.1% drop of the top 20 metro areas.

Since peaking in late 2005, San Diego home values are down 38%.

Nationally, seasonal factors pushed July numbers higher, says David Blitzer of Standard & Poor's. "We are still far from a sustained [housing] recovery," he says.

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