December 29, 2010
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – October data is released in December).
Here are the basic Case-Shiller stats for the Los Angeles area (which Case-Shiller defines as LA and Orange Counties) as of October:
October 2010
Month to Month: Down 0.7%
Year to Year: Up 3.3%
Prices at this level in: December 2003
Peak month: September 2006
Change from Peak: Down 36.5% in 49 months
Low Tier: Under $314,141
Mid Tier: $314,141 to $515,061
Hi Tier: Over $515,061
All twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between September and October (vs. 18 August to September). Only four markets posted year-over-year gains: San Francisco, San Diego, Los Angeles, and Washington DC.
Here’s an updated look at the SoCal YOY chart, inching closer to zero…
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
The low tier actually squeaked out a gain, but the middle and high tiers both fell. Month to month, the low tier was up 0.2%, the middle tier fell 0.6%, and the high tier decreased 0.9%.
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December 1, 2010
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – September data is released in November).
Here are the basic Case-Shiller stats for the Los Angeles area (which Case-Shiller defines as LA and Orange Counties) as of September:
September 2010
Month to Month: Down 0.1%
Year to Year: Up 4.4%
Prices at this level in: December 2003
Peak month: September 2006
Change from Peak: Down 36.0% in 48 months
Low Tier: Under $314,664
Mid Tier: $314,664 to $518,052
Hi Tier: Over $518,052
Eighteen of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between August and September (vs. 15 July to August). Only Washington and Las Vegas saw month-to-month increases.
Another month, another tick closer to 0% year-over-year. At this rate, we’ll pass back into year-over-year losses as early as December’s data.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
The tiered pattern in Los Angeles was slightly different than most other cities around the country, with the low tier and the high tier coming in flat, while the middle tier fell 0.6%.
Read the rest of this entry »
