The Case-Shiller update has just come out for their 20-city index on home pricing. This graph line just continues to fall off the page. I showed this at the real estate conference and commented that its not only falling, it seems to be speeding up! Well, that still seems to be the case. Consider these numbers for Los Angeles:
The low price range is less than $408,960 (current dollars). Prices in this range have fallen 37.9% from the peak in real terms. The mid-range is $408,960 to $617,001. Prices have fallen 32.5% in real terms. The high price range is above $617,001. Prices have fallen 24.1% in real terms.
Here’s a PDF of the press release from S&P.
A little concerning, Los Angeles is a key feeder market for Vallarta…