Los Angeles real estate market still hot based on July's Case-Shiller Index with prices up 20.79 percent compared to a year ago and up a little 2.1 percent over June. Prices seem to be stabilizing. While home prices still up rate of increase has slowed.
LA Home Prices Still Going Up, But Not Quite So Crazily
Tuesday, September 24, 2013, by Eve Bachrach
Standard & Poor's is out with the July edition of the Case-Shiller index, which tracks home prices in 20 cities across the country. Today's report follows the trend we saw over the summer: in Los Angeles, prices are way up compared to a year ago (20.79 percent) and up a little (2.1 percent) over June--pretty much mirroring competitor DataQuick's report. But for the third straight month, the gain was smaller than the previous month's. And, as the chart above shows, we're now about 18 months into vertiginous price increases, but still well below the peak of seven years ago. Nationally, all 20 cities saw home prices go up in July compared to June, but 15 saw the rate of increase slow down, just like LA.
· S&P/CASE-SHILLER 20-CITY COMPOSITE HOME PRICE INDEX [Official Site]
· State O' The Market Archives [Curbed LA]