Saturday, August 16, 2014
90046 Market Trends
Saturday, July 19, 2014
Los Angeles Market Trends July 2014
The Credit Crisis of 2007 and
ensuing economic recession has substantially impacted Southern California
market conditions. Case Shiller index reports a 19.9% decrease in the Los
Angeles MSA home price index from 273.94 in September 2006 to 219.47 in April
2014. The index has remained relatively stable from October 2013 to April 2014.
See Chart
LOS
ANGELES-LONG BEACH-GLENDALE METROPOLITAN DIVISION
(LOS
ANGELES COUNTY)
“Nonfarm
employment up by 4,800 jobs over the month; up 88,800 jobs over the year
The
seasonally adjusted unemployment rate in Los Angeles County decreased over the
month to 8.1 percent in June 2014 from a revised 8.2 percent in May 2014 and
was below the rate of 10.0 one year ago. Civilian employment increased by
11,000 to 4,587,000 in June 2014, while unemployment decreased by 4,000 to
404,000 over the month.
The
civilian labor force increased by 5,000 over the month to 4,990,000 in June
2014. (All of the above figures are
seasonally
adjusted.) The unadjusted unemployment rate for the county was 8.2 percent in June
2014.
The
California seasonally adjusted unemployment rate was 7.4 percent in June 2014, 7.6
percent in May 2014, and 9.0 percent a year ago in June 2013. The comparable
estimates for the nation were 6.1 percent in June 2014, 6.3 percent in May
2014, and 7.5 percent a year ago.”
Dataquick reports:
"Southland
Home Sales Down from Last Year Again; Price Gains Throttle Back
July 15, 2014
La Jolla, CA---Southern California homes sold at the slowest
pace for a June in three years as investor purchases fell again and other
would-be buyers continued to struggle with inventory and affordability
constraints. The median price paid for a home rose to its highest level in 77
months but the single-digit gain from a year earlier was the smallest in two
years, a real estate information service reported.
A total of 20,654 new and resale houses and condos sold in Los
Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last
month. That was up 5.6 percent from 19,556 sales in May, and down 4.4 percent
from 21,608 sales in June last year, according to DataQuick, which is owned by
Irvine-based CoreLogic, a leading global property information, analytics and
data-enabled services provider.
On average, sales have increased 6.4 percent between May and
June since 1988, when DataQuick’s statistics begin. Sales have fallen on a year-over-year
basis for nine consecutive months. Sales during the month of June have ranged
from a low of 18,032 in June 2008 to a high of 40,156 in June 2005. Last month
was 23.7 percent below the June average of 27,069 sales. Sales haven’t been
above the long-term average for more than eight years.
“Pent-up demand, job growth and still-low mortgage rates
continue to put pressure on home prices. But they’re climbing at a much slower
pace than a year ago. In many markets price appreciation has slipped into the
more sustainable single-digit range, compared with gains exceeding 20 percent
this time last year. Why the drop-off? The supply of homes for sale, while
still low in an historical context, is higher this year, and the decline in
affordability serves as gravity for home prices. People can’t stretch with
exotic and risky loans the way they could during the last housing boom,” said
Andrew LePage, a DataQuick analyst.
“Many
of the market indicators we track continue to ease toward normalcy,” he added.
“For example, the use of larger, so-called jumbo loans is up significantly this
year, as is the use of adjustable-rate mortgages. Distressed property sales are
way down and, related to that, investor and cash purchases are trending lower,
toward more normal levels.” ”
Monday, June 16, 2014
90717 Lomita market trends
Trulia reports "The median sales price for homes in ZIP code 90717 for Mar 14 to Jun 14 was $482,500. This represents an increase of 8.9%, or $39,500, compared to the prior quarter and an increase of 0.6% compared to the prior year. Sales prices have appreciated 6% over the last 5 years in 90717, Lomita. Average listing price for homes on Trulia in ZIP code 90717 was $553,740 for the week ending Jun 11, which represents an increase of 1.7%, or $9,518 compared to the prior week and a decline of 0.5%, or $2,972, compared to the week ending May 21. Average price per square foot for homes in 90717 was $395 in the most recent quarter."
Dataquick reports a median sale price of $445,000 for May, 2014, a 5.3% decrease compared to May 2013.
Dataquick reports a median sale price of $445,000 for May, 2014, a 5.3% decrease compared to May 2013.
Friday, January 24, 2014
Overview
The Credit Crisis of 2007 and ensuing economic recession has substantially impacted Southern California market conditions. Case Shiller index reports a 21.6% decrease in the Los Angeles MSA home price index from 273.94 in September 2006 to 214.65 in September 2013. See Chart
Taken from : http://www.calmis.ca.gov/file/
“LOS ANGELES-LONG BEACH-GLENDALE METROPOLITAN DIVISION
(LOS ANGELES COUNTY)
Nonfarm employment up by 32,600 jobs over the month; up 67,000 jobs over the year
The seasonally adjusted unemployment rate in Los Angeles County decreased over the month to 9.5 percent in November 2013 from a revised 9.7 percent in October 2013 and was below the rate of 10.4 one year ago. Civilian employment decreased by 9,000 to 4,510,000 in November 2013, while unemployment decreased by 9,000 to 475,000 over the month. The civilian labor force decreased by 18,000 over the month to 4,985,000 in November 2013. (All of the above figures are seasonally adjusted.) The unadjusted unemployment rate for the county was
9.4 percent in November 2013.
The California seasonally adjusted unemployment rate was 8.5 percent in November 2013, 8.7 percent in October 2013, and 9.9 percent a year ago in November 2012. The comparable estimates for the nation were 7.0 percent in November 2013, 7.3 percent in October 2013, and 7.8 percent a year ago.”
Dataquick reports:
"Southland December Home Sales at Six-Year Low; Median Price Jumps
January 14, 2014
La Jolla, CA---Southern California home sales fell to a six-year low for the month of December as investor activity eased again and buyers struggled with a tight inventory of homes for sale. The median price paid for a home jumped to the highest level in nearly six years, the result of demand outstripping supply, declining distress sales and a slight increase in the share of sales in mid- to high-end areas, a real estate information service reported.
A total of 18,415 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 6.5 percent from 17,283 sales in November, and down 9.2 percent from 20,274 sales in December 2012, according to San Diego-based DataQuick.
December’s sales gain from November is normal for the season, though it was weaker than usual. On average, sales have increased 12.4 percent between November and December since 1988, when DataQuick’s statistics begin.
Last month’s sales were 24.1 percent below the average number of sales – 24,254 – in the month of December. Southland sales haven’t been above average for any particular month in more than seven years. December sales have ranged from a low of 13,240 in December 2007 to high of 36,865 in December 2003.
“Sales have fallen short of the same period a year earlier for three consecutive months now, and the pitifully low inventory is the main culprit. The jump in home values over the last year suggests we’ll eventually see a lot more people interested in selling their homes, which would help ease the inventory crunch. More supply would put downward pressure on prices, as would rising mortgage rates. But there are reasons to believe we’ll continue to see upward pressure on prices, too. Home building has risen but remains at relatively low levels, meaning no major boost to the overall supply of homes for sale. Meanwhile, demand is being fueled by a gradually improving economy. Also, some of the people who lost homes during the foreclosure crisis will be looking to own again,” said John Walsh, DataQuick president.”
90262 Lynwood
http://en.wikipedia.org/wiki/Lynwood,_California
"Lynwood is a city in Los Angeles County, California, United States of America. As of the 2010 census, the city had a total population of 69,772, down from 69,845 at the 2000 census. Lynwood is located near South Gate and Compton in the southern portion of the Los Angeles Basin. Incorporated in 1921, the city is named for Mrs. Lynn Wood Sessions, wife of a local dairyman, Charles Sessions. The local railroad siding and later Pacific Electric Railway station were named after the dairy."
Trulia reports "The median sales price for homes in ZIP code 90262 for Oct 13 to Jan 14 was $282,500. This represents an increase of 2.7%, or $7,500, compared to the prior quarter and an increase of 16.7% compared to the prior year. Sales prices have appreciated 13% over the last 5 years in 90262, Lynwood. Average listing price for homes on Trulia in ZIP code 90262 was $296,002 for the week ending Jan 22, which represents an increase of 3%, or $8,674 compared to the prior week and was unchanged compared to the week ending Jan 01. Average price per square foot for homes in 90262 was $258 in the most recent quarter."
Dataquick reports a median home sale price of $276,000 for December 2013. a 5.5% increase compared to December 2012.
"Lynwood is a city in Los Angeles County, California, United States of America. As of the 2010 census, the city had a total population of 69,772, down from 69,845 at the 2000 census. Lynwood is located near South Gate and Compton in the southern portion of the Los Angeles Basin. Incorporated in 1921, the city is named for Mrs. Lynn Wood Sessions, wife of a local dairyman, Charles Sessions. The local railroad siding and later Pacific Electric Railway station were named after the dairy."
Trulia reports "The median sales price for homes in ZIP code 90262 for Oct 13 to Jan 14 was $282,500. This represents an increase of 2.7%, or $7,500, compared to the prior quarter and an increase of 16.7% compared to the prior year. Sales prices have appreciated 13% over the last 5 years in 90262, Lynwood. Average listing price for homes on Trulia in ZIP code 90262 was $296,002 for the week ending Jan 22, which represents an increase of 3%, or $8,674 compared to the prior week and was unchanged compared to the week ending Jan 01. Average price per square foot for homes in 90262 was $258 in the most recent quarter."
Dataquick reports a median home sale price of $276,000 for December 2013. a 5.5% increase compared to December 2012.
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