The Case Shiller Index was released this week for the second quarter of 2010 and overall, the US home price rose 4.4%.  Furthermore, California’s cities have moved from some of the hardest hit metropolitan areas to three of the four leading cities based on year-over-year gains.  

Out of the twenty major cities studied, sixteen Metropolitain Statistical areas were positive for all three months of the quarter. Minneapolis, San Diego, San Francisco and Washington have shown recovery from recent lows of +15.9%, +13.4%, +21.1% and +12.0%, respectively. San Diego, in particular, has stood out with 14 consecutive months of increasing home prices.  San Diego is leading the nation in what is hoped to be the economic housing recovery. 

Given that San Diego was one of the first cities to hit rock bottom, we are not surprised to see it show the first signs positive growth.  It’s pretty easy to see why folks are taking advantage the prices in places like Downtown San Diego’s 92101 zipcode.  With an abundance of new condos at discounts of 30-55% off their mid 2005 prices and a world class city with attractions like the San Diego Bay, Balboa Park, The Gaslamp Quarter, Little Italy and so many entertainment options, it’s no wonder why people are putting their faith and dollars into San Diego Real Estate.

San Diego is well known for its weather, beaches, sailing, surfing and southern California lifestyle.  Whether looking for a vacation home or investment property, San Diego is a great place to park your money.