Here's why housing prices are still high despite the pandemic | Phillip Molnar

San Diego home prices went up the third fastest in the nation in September and appreciated at a pace not seen in more than six years.Prices in the San Diego metropolitan area were up 9.5 percent annually, the S&P CoreLogic Case-Shiller Indices reported Tuesday. The acceleration is still not near housing boom levels when, in July 2004, prices were up 33.37 percent in a year.Only Phoenix, up 11.4 percent, and Seattle, up 10.1 percent, saw prices go up faster in September. But all markets covered in the 19-city index were up, even places like New York and San Francisco, that saw price gains slow considerably since the start of the COVID-19 pandemic.Read more: https://www.sandiegouniontribune.com/business/story/2020-11-24/san-diego-home-prices-going-up-3rd-fastest-in-nation-at-rates-not-seen-since-2014