Tuesday, Oct. 27, 2009 | Housing prices in San Diego County rose again in August, rounding out a summer of monthly price gains, according to data released Tuesday.
Prices rose a seasonally adjusted 1.52 percent between July and August, the Standard & Poor’s/Case-Shiller home price index showed.
Though prices in August were still down 8.85 percent from the same month in 2008, that year-over-year gap has been shrinking, reaching single digits for the first time in nearly two years. Those gaps were larger than 20 percent for more than a year of the downturn.
“It seems to me that it is the process of turning around,” said Lynn Reaser, president-elect of the National Association for Business Economics and chief economist at Point Loma Nazarene University. “The lower end in particular seems to have turned a corner.”