Los Angeles-Long Beach-Glendale Home Prices Down 0.1% Year Over Year in December, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its December 2024 Home Price Index (HPI) report, revealing that the Los Angeles-Long Beach-Glendale market experienced a -0.1% year-over-year price decrease. Nationally, home prices showed a modest +3.9% year-over-year growth, though the pace slowed throughout 2024.
The report highlights that higher mortgage rates and increased inventory levels in the latter half of 2024 contributed to the cooling trend. In the Los Angeles metro area, price changes varied across market segments: starter homes declined -0.2%, mid-tier properties increased +2.0%, and luxury homes rose +0.4%.
Among major markets, Anaheim, California led with the highest year-over-year HPI increase at +6.1%, while Tampa, Florida showed the largest decrease at -4.6%. Chief Economist Mark Fleming suggests that areas with rapid supply growth may face stronger price moderation, while those with supply could see steadier growth or price reacceleration.
First American Data & Analytics ha pubblicato il suo rapporto sul Home Price Index (HPI) di dicembre 2024, rivelando che il mercato di Los Angeles-Long Beach-Glendale ha registrato una diminuzione dei prezzi dello -0,1% su base annua. A livello nazionale, i prezzi delle case hanno mostrato una crescita modesta del +3,9% rispetto all’anno precedente, anche se il ritmo ha rallentato durante il 2024.
Il rapporto evidenzia che l'aumento dei tassi ipotecari e l'incremento dei livelli di inventario nella seconda metà del 2024 hanno contribuito alla tendenza al raffreddamento. Nella zona metropolitana di Los Angeles, le variazioni dei prezzi sono state diverse a seconda dei segmenti di mercato: le abitazioni di avvio hanno subito una diminuzione dello -0,2%, le proprietà di fascia media sono aumentate del +2,0% e le abitazioni di lusso sono aumentate dello +0,4%.
Tra i principali mercati, Anaheim, California ha registrato il maggiore aumento dell'HPI su base annua con un +6,1%, mentre Tampa, Florida ha mostrato la più grande diminuzione con un -4,6%. Il capo economista Mark Fleming suggerisce che le aree con crescita rapida dell'offerta potrebbero affrontare una maggiore moderazione dei prezzi, mentre quelle con scarsa offerta potrebbero vedere una crescita più sostenuta o una nuova accelerazione dei prezzi.
First American Data & Analytics publicó su informe sobre el Índice de Precios de Viviendas (HPI) de diciembre de 2024, revelando que el mercado de Los Ángeles-Long Beach-Glendale experimentó una disminución del -0,1% en los precios interanuales. A nivel nacional, los precios de las viviendas mostraron un crecimiento modesto del +3,9% interanual, aunque el ritmo se desaceleró durante 2024.
El informe destaca que el aumento en las tasas hipotecarias y el incremento en los niveles de inventario en la segunda mitad de 2024 contribuyeron a la tendencia de enfriamiento. En el área metropolitana de Los Ángeles, los cambios en los precios variaron según los segmentos de mercado: las viviendas iniciales cayeron un -0,2%, las propiedades de gama media aumentaron un +2,0%, y las casas de lujo subieron un +0,4%.
Entre los principales mercados, Anaheim, California lideró con el mayor aumento del HPI interanual con un +6,1%, mientras que Tampa, Florida mostró la mayor disminución con un -4,6%. El economista jefe Mark Fleming sugiere que las áreas con un rápido crecimiento de la oferta pueden enfrentar una moderación más fuerte en los precios, mientras que aquellas con escasa oferta podrían ver un crecimiento más sostenido o una nueva aceleración de precios.
퍼스트 아메리칸 데이터 & 분석이 2024년 12월 주택 가격 지수(HPI) 보고서를 발표하며, 로스앤젤레스-롱비치-글랜데일 시장에서 전년 대비 가격이 -0.1% 감소했다고 전했습니다. 전국적으로 주택 가격은 전년 대비 +3.9%의 완만한 성장을 보였으나, 2024년 내내 속도가 느려졌습니다.
보고서는 2024년 하반기에 높은 주택담보대출 금리와 증가한 재고 수준이 냉각 추세에 기여했다고 강조합니다. 로스앤젤레스 메트로 지역에서는 시장 세그먼트에 따라 가격 변화가 달랐습니다: 스타터 홈은 -0.2% 감소했고, 중간 가격대의 자산은 +2.0% 증가했으며, 고급 주택은 +0.4% 상승했습니다.
주요 시장 중 애너하임, 캘리포니아가 전년 대비 HPI 증가율이 +6.1%로 가장 높았고, 탬파, 플로리다는 -4.6%로 가장 큰 감소를 보였습니다. 수석 경제학자 마크 플레밍은 공급이 빠르게 증가하는 지역은 가격 조정이 더 강할 수 있으며, 공급이 적은 지역은 더 안정적인 성장이나 가격 재가속화를 경험할 수 있다고 제안합니다.
First American Data & Analytics a publié son rapport sur l'Indice des Prix des Maisons (HPI) de décembre 2024, révélant que le marché de Los Angeles-Long Beach-Glendale a connu une baisse des prix de -0,1% par rapport à l'année précédente. À l'échelle nationale, les prix des maisons ont montré une croissance modeste de +3,9% d'une année sur l'autre, bien que le rythme ait ralenti tout au long de 2024.
Le rapport souligne que des taux hypothécaires plus élevés et une augmentation des niveaux d'inventaire dans la seconde moitié de 2024 ont contribué à cette tendance au refroidissement. Dans la région métropolitaine de Los Angeles, les variations de prix ont différé selon les segments de marché : les maisons d'entrée ont diminué de -0,2%, les propriétés de milieu de gamme ont augmenté de +2,0% et les maisons de luxe ont augmenté de +0,4%.
Parmi les principaux marchés, Anaheim, Californie a enregistré la plus forte hausse de l'HPI avec +6,1% par rapport à l'année précédente, tandis que Tampa, Floride a affiché la plus grande baisse avec -4,6%. L'économiste en chef Mark Fleming suggère que les zones connaissant une forte croissance de l'offre pourraient faire face à une modération plus prononcée des prix, tandis que celles avec une offre limitée pourraient connaître une croissance plus stable ou une réaccélération des prix.
First American Data & Analytics hat seinen Bericht über den Home Price Index (HPI) für Dezember 2024 veröffentlicht, der zeigt, dass der Markt von Los Angeles-Long Beach-Glendale einen Rückgang der Preise um -0,1% im Jahresvergleich verzeichnete. National stiegen die Hauspreise im Jahresvergleich um moderate +3,9%, obwohl sich das Tempo im Laufe des Jahres 2024 verlangsamte.
Der Bericht hebt hervor, dass höhere Hypothekenzinsen und gestiegene Lagerbestände in der zweiten Hälfte von 2024 zu dem Abwärtstrend beigetragen haben. In der Metropolregion Los Angeles variierten die Preisänderungen je nach Marktsegment: Starterhäuser sanken um -0,2%, Immobilien im mittleren Preissegment stiegen um +2,0% und Luxusimmobilien nahmen um +0,4% zu.
Unter den großen Märkten führte Anaheim, Kalifornien mit dem höchsten HPI-Anstieg im Jahresvergleich von +6,1%, während Tampa, Florida den größten Rückgang mit -4,6% verzeichnete. Chefvolkswirt Mark Fleming schlägt vor, dass Regionen mit schnellem Angebotswachstum möglicherweise stärkere Preisanpassungen erleben, während Gebiete mit begrenztem Angebot ein stabileres Wachstum oder eine Preisbeschleunigung sehen könnten.
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National House Prices Grew Modestly in 2024
—Higher mortgage rates in the latter half of the year, combined with higher inventory levels, triggered the cooling trend, says Chief Economist Mark Fleming—
December1 Home Price Index
Los Angeles-Long Beach-Glendale Market |
|
Metric |
Change in HPI |
November-December 2024 (month over month) |
-0.8 percent |
December 2023-December 2024 (year over year) |
-0.1 percent |
National HPI |
|
Metric |
Change in HPI |
November-December 2024 (month over month) |
+0.1 percent |
December 2023-December 2024 (year over year) |
+3.9 percent |
Chief Economist National HPI Analysis:
“House price growth nationally started 2024 strong at a 7 percent annualized pace of growth but gradually slowed over the course of the year, ending in the high 3 percent year-over-year growth range. Higher mortgage rates in the latter half of the year, combined with higher inventory levels, triggered the cooling trend. If similar conditions persist through 2025, we should expect very moderate price appreciation,” said Mark Fleming, chief economist at First American. “Areas with rapid supply growth that outstrips demand may face stronger moderation or even price declines, while areas with limited new supply may see steadier price growth or even price reacceleration. The structural housing shortage nationally will keep a floor on how low prices can go, but a ‘higher-for-longer’ rate environment and inventory growth could cause further price moderation.”
Year-Over-Year Price-Tier Data for the Los Angeles-Long Beach-Glendale Metro Area: December 2023 to December 2024
The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.
CBSA |
Starter |
Mid-Tier |
Luxury |
|
- |
+ |
+ |
“House price growth has varied considerably at the regional level over the last year, largely driven by differences in for-sale inventories. As more homes become available, the power dynamics can shift in favor of buyers, putting downward pressure on prices,” said Fleming. “All else equal, house price growth in markets with higher inventory of homes available for sale will weaken compared to those with low inventory relative to demand.”
December 2024 First American Data & Analytics Price Tier HPI Highlights2
Core-Based Statistical Areas (CBSAs) Ranked by Greatest Year-Over-Year Increases in Starter Tier HPI |
|||
CBSA |
Change in Starter Tier HPI |
Change in Mid-Tier HPI |
Change in Luxury Tier HPI |
|
+9.5 percent |
+2.7 percent |
+4.0 percent |
|
+6.0 percent |
+7.6 percent |
+6.8 percent |
|
+5.3 percent |
+5.2 percent |
+3.7 percent |
|
+5.1 percent |
+2.9 percent |
+4.2 percent |
|
+5.0 percent |
+7.0 percent |
+6.6 percent |
Additional December 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+6.1 percent |
|
+6.0 percent |
|
+5.8 percent |
|
+4.4 percent |
|
+4.3 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decease in HPI |
|
|
-4.6 percent |
|
-0.8 percent |
|
-0.2 percent |
|
-0.1 percent |
|
+0.5 percent |
HPI data for all 50 states and the largest 30 CBSAs by population is available here.
Visit the First American Economic Center for more research on housing market dynamics.
Next Release
The next release of the First American Data & Analytics House Price Index will take place the week of February 17, 2025.
First American Data & Analytics HPI Methodology
The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e. the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.
The HPI uses a repeat-sales methodology, which measures price changes for the same property over time using more than 46 million paired transactions to generate the indices. In non-disclosure states, the HPI utilizes a combination of public sales records, MLS sold and active listings, and appraisal data to estimate house prices. This comprehensive approach is particularly effective in areas where there is limited availability of accurate sale prices, such as non-disclosure states. Property type, price and location data are used to create more refined market segment indices. Real Estate-Owned transactions are not included.
Disclaimer
Opinions, estimates, forecasts and other views contained in this page are those of First American’s Chief Economist, do not necessarily represent the views of First American or its management, should not be construed as indicating First American’s business prospects or expected results, and are subject to change without notice. Although the First American Economics team attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2025 by First American. Information from this page may be used with proper attribution.
About First American Data & Analytics
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 8 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData®, First American TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of
1 The most recent index results are subject to revision as data from more transactions become available.
2 Note:
View source version on businesswire.com: https://www.businesswire.com/news/home/20250127259019/en/
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Source: First American Data & Analytics
FAQ
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