Tuesday, August 26, 2008

June Case-Shiller

Today's June 2008 S&P/Case-Shiller numbers continued down again, but less steeply.

Los Angeles (black line, includes Orange County) is now down 28.5% from its peak in September 2006 - 1.4% from May, 1.9% from April, 2.2% from March, 3.6% from February, 4.3% from January, 3.7% from December 2007, 3.6% from November, 3.6% from October, 2.1% from September and 1.3% from August. The national (orange line, their original 10-city Composite) index is down 20.3% from its peak in June 2006.

Besides the original city index they have each city broken into Low, Middle, and High tiers (Under $397,294, $397,294 - $598,244, and Over $598,244; updated for June). Los Angeles' Low Tier rose the most and has fallen back the most so far from its November 2006 peak, 38.5%. The High Tier rose the least and plateaued for awhile before falling more steeply, now appears flattening again, down .2% to 20.2% from June 2006.

Below is an update on my low-end north-of-Montana index. Counting low-end / tear-down sales on 9th, 10th, 12th, and Euclid Streets, its 25% fall closely tracked the Los Angeles Case-Shiller index in the 1990s. But there's only been one data point since June 2007, 517 Euclid for a flat $2,079K.

Yes, it has gotten kind of boring lately, continuing trends without a lot new to report. I'm mostly looking for leading indicators of weakening Westside prices finally following falling Los Angeles prices. (Try saying finally following falling fast!)


Anonymous said...

great analysis, thanks for keeping up!

Anonymous said...

get a life. you have way too much free time.

Anonymous said...

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Hardmoneyloans.org said...

I never followed the actual numbers of today's bad economy times in los angeles.
it's scary