Several recent studies have shown home prices in the Los Angeles metropolitan area have decreased over the last year. Indeed, the region's home prices continued their fall in October, according to a report by CoreLogic, a Santa Ana-based aggregator of real estate and financial information. Does this really show the true story of what is happening to prices?

One thing that I like about this companies methodology is that CoreLogic's methodology compares the same homes over time to provide a more accurate picture of the housing market. Other studies can be skewed by changes in the type of homes sold during a period, such as more smaller homes sold in a month than usual, or a higher proportion of distressed property sales such as bank owned properties, foreclosure sales, and short sales that may not reflect the true value of a home.

Housing prices in the Los Angeles-Long Beach-Glendale region fell 5.8 percent that month, compared with October of last year, CoreLogic said, however hat figure includes distressed homes. Excluding the distressed sales, however, prices actually rose a slight 0.8 percent year over year. The entire article published in the Daily Breeze can be viewed at http://www.dailybreeze.com/business/ci_19492384

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

 

0 Comments on Los Angeles Home Prices Decline, or Do They?

Login or register to leave a comment
 
Shower Rainmaker_large

Palos Verdes Real Estate Blog - Maureen Megowan

Palos Verdes Estates, CA

More about me…

Remax Estate Properties - DRE #01368971

Address: 63 Malaga Cove Plaza, Palos Verdes Estates, CA, 90274

Office Phone: (310) 541-6416

Cell Phone: (310) 259-7124

Email Me

Information about the real estate and home markets of the beach communities of the South Bay of Los Angeles and the Palos Verdes Peninsula. Palos Verdes homes for sale and South Bay Los Angeles real estate. I strive to be the best real estate agent / realtor in the cities of Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills, Redondo Beach, Torrance, Manhattan Beach, Hermosa Beach, San Pedro and El Segundo.l


Listings

Links

Archives

RSS 2.0 Feed for this blog