Los Angeles-Long Beach-Glendale Home Prices Up 0.6% Year Over Year in October, According to First American Data & Analytics Monthly Home Price Index Report
Los Angeles-Long Beach-Glendale home prices showed a 0.6% increase year-over-year in October, with a slight -0.3% month-over-month decline. The national Home Price Index recorded a 3.8% year-over-year increase, ending a nine-month deceleration trend.
In the LA metro area, all price tiers showed similar growth: starter homes at 1.2%, mid-tier at 1.3%, and luxury homes at 1.2%. Among major markets, Anaheim led with 7.0% growth, while Tampa showed the largest decline at -1.5%. Chief Economist Mark Fleming notes that house price growth is stabilizing at a balanced pace, though higher mortgage rates may dampen buying activity through 2024.
I prezzi delle case a Los Angeles-Long Beach-Glendale hanno registrato un aumento dello 0,6% rispetto all'anno precedente in ottobre, con una leggera diminuzione mensile dello -0,3%. L'Indice dei Prezzi delle Case nazionale ha mostrato un aumento del 3,8% rispetto all'anno precedente, ponendo fine a un trend di decelerazione durato nove mesi.
Nell'area metropolitana di LA, tutte le fasce di prezzo hanno mostrato una crescita simile: case di partenza al 1,2%, case di fascia media al 1,3%, e case di lusso al 1,2%. Tra i principali mercati, Anaheim ha guidato con una crescita del 7,0%, mentre Tampa ha mostrato il maggior calo con -1,5%. Il Capo Economista Mark Fleming osserva che la crescita dei prezzi delle case si sta stabilizzando a un ritmo bilanciato, anche se tassi ipotecari più alti potrebbero ridurre l'attività di acquisto fino al 2024.
Los precios de las viviendas en Los Ángeles-Long Beach-Glendale mostraron un aumento del 0,6% interanual en octubre, con una leve disminución del -0,3% mes a mes. El Índice Nacional de Precios de Viviendas registró un aumento del 3,8% interanual, poniendo fin a una tendencia de desaceleración de nueve meses.
En el área metropolitana de LA, todos los niveles de precios mostraron un crecimiento similar: casas iniciales al 1,2%, de gama media al 1,3%, y casas de lujo al 1,2%. Entre los principales mercados, Anaheim lideró con un crecimiento del 7,0%, mientras que Tampa mostró la mayor caída con -1,5%. El Economista Jefe Mark Fleming señala que el crecimiento de los precios de las viviendas se está estabilizando a un ritmo equilibrado, aunque las tasas hipotecarias más altas podrían disminuir la actividad de compra hasta 2024.
로스앤젤레스-롱비치-글렌데일의 주택 가격은 10월에 전년 대비 0.6% 상승했으며, 월간으로는 -0.3%의 소폭 감소를 보였습니다. 전국 주택 가격 지수는 전년 대비 3.8% 상승을 기록하며 9개월간의 둔화 추세를 끝냈습니다.
LA 메트로 지역에서는 모든 가격대에서 유사한 성장을 보였습니다: 시작 주택 1.2%, 중간 가격대 1.3%, 고급 주택 1.2%. 주요 시장 중 아나하임이 7.0% 성장으로 선두를 차지했습니다, 반면 탬파는 -1.5%로 가장 큰 감소를 기록했습니다. 수석 이코노미스트 마크 플레밍은 주택 가격 상승이 균형 잡힌 속도로 안정되고 있다고 언급하며, 높은 모기지 금리가 2024년까지 구매 활동을 저하시킬 수 있다고 말했습니다.
Les prix des maisons à Los Angeles-Long Beach-Glendale ont montré une augmentation de 0,6% d'une année sur l'autre en octobre, avec un léger recul de -0,3% par rapport au mois précédent. L'Indice National des Prix des Maisons a enregistré une augmentation de 3,8% d'une année sur l'autre, mettant fin à une tendance de dépréciation de neuf mois.
Dans la région métropolitaine de LA, toutes les catégories de prix ont montré une croissance similaire : maisons de départ à 1,2%, moyenne à 1,3% et maisons de luxe à 1,2%. Parmi les principaux marchés, Anaheim a mené avec une croissance de 7,0%, tandis que Tampa a montré le plus grand déclin à -1,5%. L'économiste en chef Mark Fleming note que la croissance des prix des maisons se stabilise à un rythme équilibré, bien que des taux hypothécaires plus élevés puissent diminuer l'activité d'achat jusqu'en 2024.
Die Hauspreise in Los Angeles-Long Beach-Glendale zeigten im Oktober einen Anstieg von 0,6% im Vergleich zum Vorjahr, während es im Vergleich zum Vormonat einen leichten Rückgang von -0,3% gab. Der nationale Hauspreisindex verzeichnete einen Jahresvergleich von 3,8%, was das Ende eines neunmonatigen Abkühlungstrends bedeutet.
In der Metropolregion LA wiesen alle Preiskategorien ein ähnliches Wachstum auf: Eigenheime bei 1,2%, Mittelklassewohnungen bei 1,3% und Luxusimmobilien bei 1,2%. Unter den großen Märkten führte Anaheim mit einem Wachstum von 7,0%, während Tampa mit -1,5% den größten Rückgang zeigte. Chefökonom Mark Fleming stellt fest, dass das Wachstum der Hauspreise sich auf einem ausgewogenen Niveau stabilisiert, obwohl höhere Hypothekenzinsen die Kaufaktivität bis 2024 dämpfen könnten.
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National House Prices Stabilize After Nine-Month Slowdown
—House Price Growth Nationally Likely to End the Year Not Too Hot, Not Too Cold, says Chief Economist Mark Fleming—
October1 Home Price Index
Los Angeles-Long Beach-Glendale Market |
|
Metric |
Change in HPI |
September-October 2024 (month over month) |
-0.3 percent |
October 2023-October 2024 (year over year) |
+0.6 percent |
National HPI |
|
Metric |
Change in HPI |
September-October 2024 (month over month) |
-0.05 percent |
October 2023-October 2024 (year over year) |
+3.8 percent |
Chief Economist National HPI Analysis:
“National annual house price appreciation stabilized in October, ending a nine-month streak of annual deceleration,” said Mark Fleming, chief economist at First American. “While mortgage rates slid downward through September, they unexpectedly rebounded in October, wiping out the short-lived affordability boost from lower mortgage rates. As a result, potential home buyers may hit pause, dampening home buying activity through the rest of 2024. Heading toward the new year, house price growth seems poised to maintain a steady, balanced pace—neither too hot, nor too cold.”
Year-Over-Year Price-Tier Data for the Los Angeles-Long Beach-Glendale Metro Area: October 2023 to October 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 trends vary significantly by market, and annual price growth in October was slowest in markets in the South and West,” said Fleming. “Affordability challenges, and in some markets a bump in inventory relative to demand, are keeping a lid on price appreciation.”
October 2024 First American Data & Analytics Price Tier HPI Highlights
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 |
|
+8.9 percent |
+13.3 percent |
+0.4 percent |
|
+8.3 percent |
+2.6 percent |
+1.7 percent |
|
+7.7 percent |
+7.2 percent |
+1.8 percent |
|
+7.0 percent |
+4.4 percent |
+3.4 percent |
|
+6.9 percent |
+5.9 percent |
+6.4 percent |
Additional October 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+7.0 percent |
|
+5.7 percent |
|
+5.6 percent |
|
+5.4 percent |
|
+5.0 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decease in HPI |
|
|
-1.5 percent |
|
-1.2 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 December 16, 2024.
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. © 2024 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.
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Source: First American Data & Analytics
FAQ
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