Southern California home prices continued to outpace the national average, and many major cities, said the SP/Case-Shiller Home Price Index released Tuesday.
Prices nationally, adjusted for seasonal variation, rose 5.2 percent in the 12 months ended in March, with the Pacific Northwest and West seeing the biggest gains.
San Diego County’s median home price increased 6.2 percent , lower than the 6.4 percent increase in February and 6.9 percent in January. Los Angeles and Orange counties were up 6.5 percent, down from 6.8 percent in February and 6.9 percent in January.
Portland had the biggest gains at 12.3 percent, followed by Seattle at 10.8 percent and Denver at 10 percent.
Economists said home prices continue to rise because of improved labor markets and employment rates, low mortgage rates and limited home supply.
Mark Goldman, finance and real
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