The Case-Shiller Index for San Diego was flat for the last three months of 2014.
But when rates dropped back into the 3.50% to 3.75% range in January, the market surged and both sales and prices picked up.
Here are the San Diego readings for 2015:
| Month | ||
| January | ||
| February | ||
| March |
The Case-Shiller Index is a lagging indicator, and its reflection of buying decisions made in December-February seems like ancient history today.
“Home prices are currently rising more quickly than either per capita personal income (3.1%) or wages (2.2%), narrowing the pool of future home-buyers.
All of this suggests that some future moderation in home prices gains is likely,” he said. “Moreover, consumer debt levels seem to be manageable.”
More price growth ahead, according to this:
http://www.housingwire.com/articles/33993-capital-economics-chart-shows-home-price-growth-to-pick-up-soon