After declining four out of the last five months, the Case-Shiller Index for San Diego rose in January by 0.71%. The year-over-year change was 5.1%, which is pretty hefty considering how high prices already were at the beginning of 2014.
Dave rains on the parade, as usual:
“Despite price gains, the housing market faces some difficulties. Home prices are rising roughly twice as fast as wages, putting pressure on potential homebuyers and heightening the risk that any uptick in interest rates could be a major setback,” said David M. Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices.