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Los Angeles, CA

Page history last edited by RealEstateCafe 16 years, 1 month ago

Market overview

 

Replace the national map below to map falling prices locally and protect homebuyers in overvalued housing markets (see maps of Boston and previous price corrections)

 

 Create your own local map  Publish national map on your site Request wiki access

 

What's happening in this local housing market? Help coauthor a quick summary here:

 

Sales trend:

 

Price trend:

 

Inventory:

 

Housing market forecasts:

 

PMI U.S. Market Risk Index: Summer 2006

Los Angeles-Long Beach-Glendale, CA has a 57.5% chance of a decline in home prices over the next two years according to PMI Mortgage Insurance Co., one of 13 markets nationwide that "face a 50% or greater risk" of decline.

 

Current market conditions:

 

Global Insight / National City Crop. Valuation: 2006/Q1

$499,300 median sales price

61.3% overvalued

Classification: One of 71 "Extremely overvalued" housing markets nationwide

Source: Overvalued Housing Market? Depends Where You Live

Where are prices falling in the current market?

 

Past housing price corrections:

Price decline: 18%

Duration: 5 years (20 quarters)

Period: 1991Q4-1996Q3

Overvaluation prior to price correction: 23%

Valuation peak: 1989Q3

US News & World Report: Housing bubble correction could be severe

Where did prices fall in the last price correction?

 

Local bubble blogs:

 

Boy in the Big Housing Bubble

Southern California Real Estate Bubble Crash

The Mess that Greenspan Made

 

Ideas for this wiki (your comments are welcome)

  • Questions you'd like addressed
  • Information you'd like to see
  • Best local sources for housing news?
  • Maps you would like to see
  • Resources that should be linked
  • Direction you want to take this wiki / bubble map
  • Interviews for ongoing insight into market conditions?

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