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Report: San Diego home values beginning to slow

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Posted at 12:17 PM, Aug 16, 2019
and last updated 2019-08-16 15:24:46-04

SAN DIEGO (KGTV) -- San Diego home values continue to grow as the market shows signs of slowing, according to a report by Zillow.

The company says the median home value in San Diego currently sits at $591,500, rising just over one percent year-over-year.

According to Zillow, at this time last year, home values were growing by about 6.1 percent.

San Diego’s housing inventory also increased over the last year, jumping six percent. According to the site, there are 531 more homes on the market than last July.

In the rest of the U.S., the median home is worth $229,000, up 5.2 percent from a year ago. By this time last year, home values in the U.S. rose at 7.7 percent.

Despite the slowing trend, Zillow says home values are still growing in 48 of the top 50 markets.

Zillow says San Jose and San Francisco are the exceptions, indicating stabilizing values following a period of extreme growth.