The S&P Case Shiller Housing Index is a lagging index, but is more accurate than most of the other indexes. The 20-City Composite Home Price Index rose 5.4 percent in February. The Los Angeles index reflects a 0.7% monthly change and a 6.8% year over year increase.
The monthly housing price increase will accelerate over the next few months. Real estate markets are very localized. As conveyed in the past, local Los Angeles and San Fernando Valley housing active inventory is tight. The housing market is active, and the supply and demand equation is out of balance, driving up the pricing.
If you are in the Los Angeles region, have any questions or real estate sales or financing needs, feel free in contacting:
Ron Henderson GRI, RECS, CIAS
Multi Real Estate Services, Inc
Gov’t Affairs Chair – California Association of Mortgage Professionals
Real Estate market, Mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley