Wednesday, October 31, 2007

L.A. Times: Drop in Southland home prices outpaces the nation

It's nice to see the L.A. Times giving coverage to the Case-Shiller index. This October 31 story by Peter Hong restates what Macromarkets released yesterday.

Here is a brief YOY summary of the August report.

Charlotte           +5.6%
Chicago             -1.3%
Detroit             -9.3%
Las Vegas           -7.6%
Los Angeles/Orange  -5.7% 
Phoenix             -8.0%
San Diego           -8.3%
San Francisco       -4.2%
Seattle             +5.7%
Tampa, FL          -10.1%

Case-Shiller only looks at the values of existing SFRs, and excludes existing condos and new construction.

The August index for Los Angeles was 258.7, which is down from the September 2006 peak of 273.9.


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