California Condo Prices Continue Long Downward Trend
California Condo Prices Continue Long Downward Trend
California Condo Prices Continue Long Downward Trend
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October 13, 2011 (Jeff Alan)

Prices for condominiums in California’s metro areas continued a year-long decline in July and the lack of a seasonal “bump” is a sure sign that prices will weaken even further in the fall according to Standard & Poor’s.

Monthly condo prices in Los Angeles were flat in July and in San Francisco condo prices declined by 1.1 percent according the S&P/Case-Shiller Index. That follows a 0.5 percent price decline in June in Los Angeles and a 0.8 percent decline in San Francisco.

The price declines in June and July look especially bad because they occurred during a time of anticipated seasonal strength.

When looking back at monthly prices over the last year, things begin to look much worse. In Los Angeles, condo prices have fallen in 11 of the last 12 months, and that’s in addition to July’s flat sales. Condo prices in the area are 7.5 percent lower than July 2010.

In San Francisco, over those same 12 months, condo prices have fallen 10 times leaving prices 9.4 percent lower than July 2010.

The near year-long decline has put average market prices back to the mid-2003 levels.

Along with the two California locations, S&P also tracks condo prices in Chicago, Boston, and New York. Compared to their California counterparts, these three areas have seen general improvement since April 2011.

In July, monthly prices increased 0.7 percent in Boston and New York while in Chicago, prices increased by 1.8 percent. Year-over-year prices in Boston are only 0.6 percent lower than they were in July 2010 and New York’s prices are 0.3 percent higher.

The two California markets have also suffered much higher price declines since their market peak price.

Condo prices in Los Angeles have declined 39.0 percent since its market peak in July 2006, while San Francisco’s prices have declined 32.9 percent since its peak.

Whereas in New York, condo prices have declined 13.8 percent since its peak in February 2006 and Boston’s decline has been 11.3 percent since its peak.

Tags: California, condo prices, S&P, Case-Shiller Index, Los Angeles, San Francisco, Boston, Chicago, New York, market prices

Source:
S&P

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October 13, 2011 (Jeff Alan)

Prices for condominiums in California’s metro areas continued a year-long decline in July and the lack of a seasonal “bump” is a sure sign that prices will weaken even further in the fall according to Standard & Poor’s.

Monthly condo prices in Los Angeles were flat in July and in San Francisco condo prices declined by 1.1 percent according the S&P/Case-Shiller Index. That follows a 0.5 percent price decline in June in Los Angeles and a 0.8 percent decline in San Francisco.

The price declines in June and July look especially bad because they occurred during a time of anticipated seasonal strength.

When looking back at monthly prices over the last year, things begin to look much worse. In Los Angeles, condo prices have fallen in 11 of the last 12 months, and that’s in addition to July’s flat sales. Condo prices in the area are 7.5 percent lower than July 2010.

In San Francisco, over those same 12 months, condo prices have fallen 10 times leaving prices 9.4 percent lower than July 2010.

The near year-long decline has put average market prices back to the mid-2003 levels.

Along with the two California locations, S&P also tracks condo prices in Chicago, Boston, and New York. Compared to their California counterparts, these three areas have seen general improvement since April 2011.

In July, monthly prices increased 0.7 percent in Boston and New York while in Chicago, prices increased by 1.8 percent. Year-over-year prices in Boston are only 0.6 percent lower than they were in July 2010 and New York’s prices are 0.3 percent higher.

The two California markets have also suffered much higher price declines since their market peak price.

Condo prices in Los Angeles have declined 39.0 percent since its market peak in July 2006, while San Francisco’s prices have declined 32.9 percent since its peak.

Whereas in New York, condo prices have declined 13.8 percent since its peak in February 2006 and Boston’s decline has been 11.3 percent since its peak.

Tags: California, condo prices, S&P, Case-Shiller Index, Los Angeles, San Francisco, Boston, Chicago, New York, market prices

Source:
S&P

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
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With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
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NO OBLIGATION. NO HIDDEN FEES
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October 13, 2011 (Jeff Alan)

Prices for condominiums in California’s metro areas continued a year-long decline in July and the lack of a seasonal “bump” is a sure sign that prices will weaken even further in the fall according to Standard & Poor’s.

Monthly condo prices in Los Angeles were flat in July and in San Francisco condo prices declined by 1.1 percent according the S&P/Case-Shiller Index. That follows a 0.5 percent price decline in June in Los Angeles and a 0.8 percent decline in San Francisco.

The price declines in June and July look especially bad because they occurred during a time of anticipated seasonal strength.

When looking back at monthly prices over the last year, things begin to look much worse. In Los Angeles, condo prices have fallen in 11 of the last 12 months, and that’s in addition to July’s flat sales. Condo prices in the area are 7.5 percent lower than July 2010.

In San Francisco, over those same 12 months, condo prices have fallen 10 times leaving prices 9.4 percent lower than July 2010.

The near year-long decline has put average market prices back to the mid-2003 levels.

Along with the two California locations, S&P also tracks condo prices in Chicago, Boston, and New York. Compared to their California counterparts, these three areas have seen general improvement since April 2011.

In July, monthly prices increased 0.7 percent in Boston and New York while in Chicago, prices increased by 1.8 percent. Year-over-year prices in Boston are only 0.6 percent lower than they were in July 2010 and New York’s prices are 0.3 percent higher.

The two California markets have also suffered much higher price declines since their market peak price.

Condo prices in Los Angeles have declined 39.0 percent since its market peak in July 2006, while San Francisco’s prices have declined 32.9 percent since its peak.

Whereas in New York, condo prices have declined 13.8 percent since its peak in February 2006 and Boston’s decline has been 11.3 percent since its peak.

Tags: California, condo prices, S&P, Case-Shiller Index, Los Angeles, San Francisco, Boston, Chicago, New York, market prices

Source:
S&P

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.