Los Angeles Home Prices Continue to Rise

Data released by S&P Case-Shiller indices indicate that in the Los Angeles area, prices are still on the rise.

Increases for Los Angeles are 2.58% which is somewhat higher than the 20-city or 10-city national composite of 2.45% and 2.48%, respectively.

S&P Case Shiller index ending June 30, 2013 Click on image to visit the Case Shilling site

S&P Case Shiller index ending June 30, 2013
Click on image to visit the Case Shiller site

Interestingly enough, there are two opposing pressures on the housing market:

  • The rise in interest on mortgages puts downward pressure on buyers.  Their buying power decreases as the interest rate goes up.
  • The decrease in defaults and foreclosures means a decreasing inventory of property on the market, exerting an upward pressure on housing prices.

The Case-Shiller index measures prices across the nation in 20 cities.  The trends across the country are showing different results.  Many cities. like Los Angeles, that were hardest hit with the price decreases in the downturn, show the fastest price growth.

 

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About the Author

Natalie Neith has 22 years of experience in Los Angeles real estate and is a consistent top producer for the John Aaroe Group. Accredited by the select Architectural Collection, Natalie is an expert in marketing historic and architecturally distinctive properties. From vintage mansions to contemporary condos to everything in between, she has sold hundreds of homes in the LA area, representing celebrity sellers, repeat customers, investors and first-time buyers alike.

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