‘Mixed Signals’ in San Diego County Real Estate Report

Seasonally adjusted figures revealed price index drops in several major housing markets, including San Diego County, according to the latest monthly release of the Standard & Poor's Case-Shiller Home Price Indices.

A .2 percent index climb in San Diego between May and June became a .6 percent drop when the figure was seasonally adjusted, according to S&P. Compared to June 2010, the index fell by 5.3 percent.

Nearly all of the 20 major housing markets posted monthly increases. But for more than half, as in San Diego, the increase became a drop when the figures were seasonally adjusted. All 20 markets showed an annual decline, and half of the cities had worse falls than San Diego.

"This month's report showed mixed signals for recovery in home prices," said David Blitzer, chairman of S&P's Index Committee.

The indices set each market's medican housing price at a base value of 100 in January 2000 and tracked the subsequent rise of fall of real estate costs.

San Diego's figure was 155.06 in June, the fourth-largest climb behind Washington, D.C., Los Angeles and New York City.

By comparison, the top 20 markets combined have an index of 141.3, while two cities—Detroit and Las Vegas—are stuck below the base values set more than a decade ago, at 65 and 96, respectively.

City News Service contributed to this report.