San Diego is among the top markets with monthly declines in home prices in September

SAN DIEGO (FOX 5/KUSI) – Although affordability remains a top priority for potential homebuyers, the latest report from S&P Case-Shiller Indices shows that home price growth has slowed in the San Diego metropolitan market.

The report, released Tuesday, said the month-over-month decline in home prices was greatest in Los Angeles, San Diego and San Francisco, which each saw a -0.9% decline in September.

San Diego’s annual home price increase was 4.7% in September, compared to a staggering 5.7% the month before. In fact, the trend of slower year-on-year appreciation was noted in 17 out of 20 metros in the report.

According to the Greater San Diego Association of Realtors, home sales fell across the county and average home sale prices remained steady around the $1 million mark in September.

The three metros that posted annual increases from August to September were Minneapolis, Minn., Cleveland, Ohio, and Portland, Oregon.

Nationally, house prices recorded an annual increase of 3.9% in September, compared to 4.3% in August.