Are you thinking about buying a house or a condominium? If so, the Case-Shiller Home Price Indices may be of interest to you.
On May 29, 2012, the Case-Shiller released their home price indices for the first quarter of 2012. Home prices in Los Angeles were up 0.1% over February/March 2012. This follows a January/February 2012 change of -0.8% and a one-year change of -4.8%.
By comparison, home prices nationwide were still down by 2% in the first quarter of 2012.
Does this mean that the Los Angeles housing market has finally bottomed out? Only time will tell. Regardless, the Case-Shiller Home Price Indices are a useful tool for anyone looking to invest in residential real estate in Los Angeles or any other city.
For the press release on the Case-Shiller Home Price Indices, click on the link below:
The Standard & Poor’s Case-Shiller Home Price Indices are the leading measures for the U.S. residential housing market. The Case-Shiller Home Price Indices track changes in the value of residential real estate to produce a national index, an index of 20 metropolitan regions, a 10-city composite index, and an index of twenty individual metropolitan areas.