But S.D. not among cities in recovery

By Roger Showley
STAFF WRITER

August 27, 2008

A key housing-price index released yesterday offered a glimmer of hope that the downward spiral might be slowing in some places, but San Diego and other once-high-flying cities have yet to see any return to stability.

The Standard & Poor's/Case-Shiller Home Price Index showed prices of single-family resale homes in 20 cities had dropped 0.5 percent from May to June, compared with a 0.9 percent decline from April to May. It was the smallest month-over-month decline in a year.

San Diego's 1.5 percent decline was up from a 1.4 percent drop in May. San Diego prices were down a record 24.2 percent from year-ago levels, compared with the 15.9 percent drop for the index of 20 metro areas, also a record decline.

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