Prices Rose in October

Los Angeles and Orange counties' home prices rose 0.3 percent in October from September, the 5th month-to-month price gain in a row according to Case-Shiller Home Price Index.
Locally our prices dropped 6.3 percent from October 2008 it is the smallest percentage drop in 2 years. In reading the index it is the 13 month of improvement year-over-year.

In October 2008,homes prices in the two counties were falling at a record 28 percent annually. Local values fell 43 percent from the peak in 2006 to a bottom in April.

Nationally, the index showed:

• Home prices were flat in October vs September. That ended a string of 4 up months in a row.
• Annual percentage decline was smaller than preceding months, showing the ninth month of declining year-over-year declines.
• In the 10 city composite it showed a 6.4 percent drop in home prices year-over-year declines.

All 20 metro areas measured showed improvements in their annual rates of decline.

Tim Lorenz

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Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!