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!)

4 comments:

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