Buying decisions that caused closings in early 2015 were stimulated by mortgage rates in the mid-to-high threes. Now that rates are back over 4%, and NSDCC inventory is about 18% higher than it was at the end of April, we should see the appreciation rate flatten out for the rest of the year.

Here are the San Diego monthly changes for 2015:

“Home prices continue to rise across the country, but the pace is not accelerating,” David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, said in a statement.