The Case-Shiller Home Price Indices were released today. Even though it’s a lagging index (by two months), it’s one of the more accurate gauges of the health of the housing market.
Los Angeles reflects at .5% increase from August to September, and year over year 1.7% increase. Properties are still appreciating, but at a less torrid rate than when the real estate market turned around from the recession in 2011.
The S&P CoreLogic Case-Shiller city indices reflect the average change in home prices in a particular geographic market. The indices are calculated monthly and cover 20 major metropolitan areas (Metropolitan Statistical Areas or MSAs), which are also aggregated to form two composites – one comprising 10 of the metro areas, the other comprising all 20.
Percentage changes in the indices measure percentage changes in housing market prices given a constant level of quality. Changes in the types and sizes of houses or changes in the physical
characteristics of houses are specifically excluded from the calculations to avoid incorrectly affecting the index value.
The monthly S&P CoreLogic Case-Shiller Home Price Indices use the “repeat sales method” of index calculation – an approach that is widely recognized as the premier methodology for indexing housing prices – which uses data on properties that have sold at least twice, in order to capture the true appreciated value of each specific sales unit.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me
Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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