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Home Prices

January 25, 2011 | By Alejandro Lazo, Los Angeles Times Staff Writer
The latest read on home prices, released Tuesday morning, shows fresh declines in the vast majority of the nation's largest metropolitan areas. According to the Standard & Poor's/Case-Shiller index of 20 metropolitan areas, prices of previously owned single-family homes fell 1.6% in November from the same time last year. The closely watched index fell 1% from October to November. "With these numbers, more analysts will be calling for a double dip in home prices," said David M. Blitzer, chairman of the index committee at Standard & Poor's.
April 23, 2014 | By Edward J. Pinto and Stephen D. Oliner
Even though the recent financial crisis is barely in the rearview mirror, risk is starting to build once again in both the U.S. mortgage and housing markets. Contrary to the prevailing view that only borrowers with pristine credit records can get a mortgage these days, many risky loans are still being made. A new index published by the International Center on Housing Risk at the American Enterprise Institute measures this risk month by month, based on about three-quarters of all home-purchase loans extended across the country.
February 28, 2012 | By Alejandro Lazo, This post has been updated, as indicated below
A key gauge of home prices in the nation's largest cities fell in December to its lowest level since the start of the housing crisis in mid-2006. The Standard & Poor's/Case-Shiller index of 20 American cities fell 1.1% from November to December and 4% from December 2010. Eighteen out of the 20 cities tracked by the index posted declines and Atlanta, Las Vegas, Seattle and  Tampa, Fla., each saw average home prices hit new lows. “In terms of prices, the housing market ended 2011 on a very disappointing note,” said David M. Blitzer, chairman of the index committee at S&P Indices.
April 20, 2014 | By Kenneth R. Harney
WASHINGTON - It's common knowledge verging on holy writ in real estate: Spring is the absolute best time of the year to sell a house. Right? But is there hard statistical evidence that listing your house in April, May or June - flowers blooming, birds chirping, lawns greened up after a tough winter - actually nets you a higher price or a shorter time from listing to sale? Yes, but it's not as clear cut as you might imagine. There are important nuances in the data. Reviews of realty industry and academic studies suggest that although sales totals generally are highest in May and June, they are actually reflecting listings, contracts and buyer searches that occur earlier in the year.
February 26, 2013 | By Alejandro Lazo
Home prices across the U.S. posted sizable increases in December, indicating the housing recovery gained momentum at the end of last year. The widely followed Standard & Poor's/Case-Shiller index was up 0.2% from the prior month and 6.8% year-over-year. A broader quarterly index also released Tuesday by S&P/Case-Shiller showed national home prices up 7.3% on the year. “Home prices ended 2012 with solid gains,” David M. Blitzer, chairman of S&P's index committee, said in a statement.
October 30, 2012 | By Alejandro Lazo
Home prices in the nation's largest cities rose from July to August, according to a closely watched index, adding to a turnaround in housing this year. The Standard & Poor's/Case-Shiller index of 20 American cities, a key measure that is closely watched by economists, rose 0.9% from July to August and 2.0% from August 2011. Nineteen of the 20 cities posted positive monthly gains in August. “Home prices continued climbing across the country in August,” David Blitzer, chairman of the S&P index committee, said in a release announcing the new data Tuesday.
August 5, 2012
Re "Buying can beat renting after 3 years," Business, Aug. 2 The Zillow study on how long it takes for home buyers in certain areas to break even apparently does not consider one very important factor: education costs. For example, from the data, San Marino seems a poor value compared with Pasadena, with 11.4 years to break even against 6.4 years. However, if you have two children and live in Pasadena and want to have your children attend a school comparable to the highly rated San Marino public schools, it will cost about $50,000 a year for tuition.
January 29, 2013 | By Alejandro Lazo
Helping home prices rise is a drop in home foreclosure activity. That trend continued throughout the Los Angeles area in November, new data show. The rate at which lenders have foreclosed on mortgages in the Los Angeles area fell to 1.67% of all home loans, data firm CoreLogic said. That compares to 2.67% the same month a year prior.  That rate was lower than the national average, which was 2.97% in November. Fewer people in the Los Angeles area also fell behind on their mortgages, according to the data.
April 30, 2013 | By Alejandro Lazo
Home prices in the nation's largest American cities continued their strong gains in February, new data show. The Standard & Poor's/Case-Shiller home price index of 20 American cities rose 0.3% over the prior month and was up 9.3% over February 2012. All of the cities covered by the index have risen year-over-year for two consecutive months. “Home prices continue to show solid increases across all 20 cities,” said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices.
April 15, 2014 | By Andrew Khouri
Home-builder confidence inched up this month, but remains shaky as the spring home-buying season gets underway. The National Assn. of Home Builders/Wells Fargo Housing Market Index, released Tuesday, remained essentially flat in April, at 47. A level below 50 means more builders see the market for new, single-family homes as poor rather than good. March's level was revised down one point to 46. The association's chief economist, David Crowe, said builders are pessimistic for several reasons: tight credit for potential buyers and a short supply of skilled labor and ready-to-build lots.
April 15, 2014 | By Tim Logan
Home prices in Southern California are at their highest level in six years, according to new data, though those gains may be taking a bite out of sales volume. The median price of a house sold in Southern California rose from $383,000 in February to $400,000 in March, the market's highest level since February 2008, according to San Diego-based DataQuick, which tracks real estate data. The figure is up 15.8% from the same month last year and is the first noticeable increase since the torrid run-up in prices last spring and summer.
April 11, 2014 | By Tim Logan
Home prices are likely to keep climbing in the Southland in the next few months, though not as fast as last year. That's the prediction from FNC, which forecasts a 3.7% rise in prices between March and August in Los Angeles and Orange counties and 4.2% in the Inland Empire. The Oxford, Miss.-based data firm runs a home price index based on “normal” - non-distressed - sales and how they would affect similar homes in the same area. Interactive: See home price gains where you live.
March 31, 2014 | By Tim Logan
The number of Southern California homeowners in trouble on their mortgage continued to shrink at the start of the year, according to new figures from CoreLogic. The Irvine-based data firm reported that the share of homeowners in foreclosure and of those at least 90 days behind on mortgage payments shrank to at least three-year lows in Los Angeles County, Orange County and the Inland Empire. Those numbers have fallen steadily from historic highs as the housing market has healed and home prices have climbed.
March 25, 2014 | By Andrew Khouri
Pending home sales plunged in California last month from a year earlier, as would-be buyers struggled with high prices. The California Assn. of Realtors said Tuesday its pending sales index fell 12% from February 2013. The index has now fallen by double-digits for six straight months. Home prices shot up last year, in part because rock-bottom mortgage rates juiced demand. But rates climbed in the second half of the year, sapping an urgency to buy. Higher prices and rates have now handcuffed many buyers.
March 25, 2014 | By Tim Logan
Is the housing bubble back? In Southern California, it just might be. A report out Tuesday morning from real estate website Trulia ranks three Southland regions among the five most overvalued housing markets in the nation right now, warning a new housing bubble -- at least locally -- could be in the making. Compared to incomes here and past trends, home prices are 16% higher than they ought to be in Orange County, 13% higher in Los Angeles County and 10% higher in the Inland Empire, according to Trulia chief economist Jed Kolko.
March 19, 2014 | By Stuart Pfeifer
KB Home Inc. shares were up nearly 7% in early trading Wednesday after the Los Angeles home builder said it posted a first-quarter profit for the first time since 2007. Revenue, home prices and future orders rose significantly as the company continued to benefit from the rebound of the housing market. The company reported revenue of $451 million for the three months ended Feb. 28, up 11% from the $405 million of revenue it posted in the same period a year earlier. The average selling price of a new home was $305,200, an increase of $33,900, or 12%, from the year-earlier quarter.
March 13, 2014 | By Tim Logan
Bay Area home prices continued their surge in February, even as the number of sales slumped. The median price of a house sold in the Bay Area hit $540,000, according to San Diego-based DataQuick. That's up 2.9% from January and one-third higher than the median price a year ago. INTERACTIVE MAP: Southern California home prices Sales volume fell 8.2% to its lowest February total since 2008 and sat nearly one-fifth below historical averages for the month. High prices and tougher mortgage requirements are factors, said DataQuick President John Walsh, but the biggest thing holding sales down is a simple lack of homes on the market.
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