Home prices in the San Francisco area grew faster during the past year than prices in any other U.S. city surveyed, according to a report released Tuesday.
The S&P/Case-Shiller Home Price Index shows prices in the census area that includes San Francisco, Alameda, Contra Costa, Marin and San Mateo counties grew by 10.3 percent in March compared to the same time in 2014.
Prices in the area grew faster in March than any other metropolitan area surveyed in the report. Prices were up 3 percent in March in the San Francisco area compared with February. That’s after a 2.1 percent gain in February, according to the index. The monthly values are not adjusted for seasonal affects. Seasonally adjusted data would make the monthly increases 1.7 percent in March and 3.4 percent in February.
Home prices also rose nationally, with both the 10-city and 20-city indexes published by S&P/Case-Schiller showing growth over both the past year and the past month. The only area that did not experience a month-over-month increase in home prices was New York City.
Cover Photo Courtesy of David Sawyer