The rise in San Diego house costs slowed once more in Could, with only a 0.6% improve in comparison with 2.3% in April and three.7% in March, in response to the authoritative Case-Shiller Index launched Tuesday.
Regardless of the slowdown in latest months, native house costs are nonetheless 25.6% larger than a yr in the past — above the nationwide common of 19.7%.
“Housing information for Could 2022 continued sturdy, as worth positive factors decelerated barely from very excessive ranges,” stated Craig J. Lazzara, managing director at S&P Dow Jones Indices.
He cited the growing price of mortgage financing as an element within the slowdown, and cautioned that “a more-challenging macroeconomic atmosphere could not help extraordinary house worth progress for for much longer.”
In distinction to San Diego, month-to-month worth positive factors remained above 2% in plenty of cities, together with Miami at 2.9%, Tampa at 2.8% and Dallas at 2.6%. The nationwide common improve in Could was 1.5% in comparison with 2.3% in April.
“Costs continued strongest within the South and Southeast, each of which recorded 30.7% positive factors year-over-year,” stated Lazzara.