Here are my updates for August 06, 2013
L.A. area leads country in June home price gains
The Los Angeles metropolitan area led the country in single-family home price gainsamong the 100 largest cities in June, according to a report released Tuesday from CoreLogic, a real estate data provider.
The Los Angeles-Long Beach-Glendale area posted a 20.7 percent increase in June from a year earlier, which includes distressed properties, the report said. The Riverside-San Bernardino-Ontario metro area followed with an increase of 19.8 percent.
All but one of the 100 largest cities reported price gains, but the two metros, along with Phoenix and Atlanta, were the only cities to have price gains in existing homes that were better than the nationwide year-over-year increase of 11.9 percent.
Home prices in California appreciated the second-highest in the country at 21.4 percent, behind Nevada’s 26.5 percent. Only in Mississippi and Delaware had declining prices, according to the report.
U.S. home prices increased 1.9 percent from May, reflecting stronger demand amid a tight supply of homes for sale.
“In the first six months of 2013, the U.S. housing market appreciated a remarkable 10 percent,” Mark Fleming, chief economist for CoreLogic, said in the report. “This trend in home price gains is at the best pace since 1977.”
The report also stated June represented the 16th consecutive month of year-over-year price gains. However, home prices are 19 percent below the peak set in April 2006, according to the report.
Trulia Inc. on Tuesday reported that Los Angeles, Orange County and seven other California cities were “hot housing markets where prices are slowing most.”
Los Angeles was at the bottom of the list of 15 U.S. cities, with an asking price decline of 1.1 percent between April and July. Year-over-year, L.A.’s home price gains slowed down 20.9 percentage points.
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”