- San Diego-Chula Vista-Carlsbad home prices down 2.1% year-over-year in April.
- National home prices continue to decelerate, with a 0.4% month-over-month increase in April.
- Slower price appreciation offers hope for potential home buyers, according to First American's Chief Economist.
According to the latest Home Price Index (HPI) report by First American Data & Analytics, home prices in the San Diego-Chula Vista-Carlsbad metro area saw a year-over-year decline of 2.1% in April 2025. Moreover, the same region experienced a month-over-month decrease of 0.8% from March to April 2025.
On a national scale, the HPI report indicates a 0.4% increase in home prices from March to April 2025, while the year-over-year growth stands at 2.0%. Despite reaching record highs, the annual growth rate has slowed to its lowest level since 2012. Mark Fleming, Chief Economist at First American, noted that the deceleration reflects a rebalancing in the market driven by high mortgage rates and increased housing inventory.
Analyzing the different price tiers, the San Diego-Chula Vista-Carlsbad region faced a 3.5% decline in the starter home tier, a 0.3% reduction in the mid-tier, and a 1.3% decrease in the luxury tier. The report highlights that markets such as Pittsburgh, Baltimore, and St. Louis are experiencing strong growth in starter home prices due to their relative affordability and limited supply.
First American Financial Corporation (FAF, Financial), the parent company of First American Data & Analytics, continues to provide property-centric information and valuation solutions. The company recently reported a total revenue of $6.1 billion in 2024 and has been recognized as a leading workplace by Great Place to Work® and Fortune Magazine.
