Single family home prices in San Diego County continued to rise steadily in April, the S&P Case-Shiller Case Shiller Home Price Index showed Tuesday.
The 4.5 percent year-over-year appreciation rate in April was virtually the same as in February and March.
The closely watched index measures repeat sales of single-family homes in 20 metropolitan areas. The composite 20-city index saw annual gains of 4.9 percent in April. San Diego ranked 12th among the 20 city cities in terms of appreciation, with prices in Denver and San Francisco both seeing values rise 10 percent over the year.
David Blitzer, chair of the Index Committee at S&P Dow Jones, said while home prices continue to rise across the country, the pace of appreciation is not accelerating.
"Recent housing data is positive," he said. "Sales of new and existing homes are rising in recent reports and construction of new homes enjoyed strong gains in May. At the same time, the proportion of new construction that is apartments rather than single family homes remains high."
Since September, San Diego County home prices have grown between 4.5 and 5 percent annually. The area's housing market has slowed since the summer of 2013, when fix-and-flip foreclosure resales paced the market with 21 percent returns. Since then, analysts say the market has been paced by traditional factors such as wages, employment, and supply and demand.
CoreLogic, another real estate tracker, reported that in April the median resale single family home in the county sold for $500,000, up 5.7 percent from April 2014