San Diego County home prices have increased more than most of California in the last year, a key real estate index showed.

San Francisco and San Diego counties’ median home price is up 6 percent in the last 12 months, said the July S&P CoreLogic Case-Shiller Indices. Los Angeles and Orange counties’ price appreciation was 5.5 percent.

Nationwide, the median price increased 5.1 percent as prices near pre-recession peaks across the United States.

David Blitzer, managing chairman of the Index Committee at S&P Dow Jones Indices, wrote in the report that the nationwide index of 20 major cities is within .6 percent of reaching the records set in July 2006.

Blitzer predicted the Federal Reserve would raise interest rates by December but mortgage rates would still be at historic lows and likely not have a major affect on home prices.

The San Diego County median home price was $498,000 in August, real estate tracker CoreLogic reported last week. It was the highest it reached in a decade, but not near the all-time peak of $517,500 peak set nearly 11 years ago..

Source: sandiegouniontribune.com