Los Angeles-Long Beach-Glendale Home Prices Up 1.4% Year Over Year in November, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its November 2024 Home Price Index (HPI) report, showing the Los Angeles-Long Beach-Glendale area experienced a 1.4% year-over-year increase in home prices, despite a -0.3% month-over-month decline. The national HPI showed a 3.9% year-over-year increase, with prices remaining aligned with historical norms.
In the LA metro area, starter-tier homes saw a 3.1% increase, while both mid-tier and luxury-tier properties rose by 1.8%. Among major markets, Anaheim led with a 7.7% increase, followed by Cambridge (5.4%) and New York (5.3%). Only two markets showed declines: Tampa (-3.3%) and Oakland (-0.3%).
Chief Economist Mark Fleming noted that despite higher mortgage rates, house prices have proven resilient, supported by a healthy labor market and increased housing inventory compared to the previous year.
First American Data & Analytics ha pubblicato il suo rapporto sull'Home Price Index (HPI) di novembre 2024, mostrando che l'area Los Angeles-Long Beach-Glendale ha registrato un aumento del 1,4% su base annua nei prezzi delle case, nonostante una diminuzione dello -0,3% rispetto al mese precedente. L'HPI nazionale ha mostrato un aumento del 3,9% su base annua, con i prezzi che restano in linea con le norme storiche.
Nell'area metropolitana di LA, le case di fascia iniziale hanno registrato un aumento del 3,1%, mentre sia le proprietà di fascia media che quelle di fascia alta sono aumentate dell'1,8%. Tra i principali mercati, Anaheim ha guidato con un aumento del 7,7%, seguita da Cambridge (5,4%) e New York (5,3%). Solo due mercati hanno mostrato un calo: Tampa (-3,3%) e Oakland (-0,3%).
Il Chief Economist Mark Fleming ha osservato che, nonostante tassi ipotecari più elevati, i prezzi delle case si sono dimostrati resilienti, supportati da un mercato del lavoro sano e da un aumento dell'inventario abitativo rispetto all'anno precedente.
First American Data & Analytics publicó su informe del Índice de Precios de Viviendas (HPI) de noviembre de 2024, mostrando que el área de Los Ángeles-Long Beach-Glendale experimentó un aumento del 1.4% interanual en los precios de las viviendas, a pesar de una disminución del -0.3% en comparación con el mes anterior. El HPI nacional mostró un aumento del 3.9% interanual, con los precios permaneciendo alineados con las normas históricas.
En el área metropolitana de LA, las viviendas de nivel inicial vieron un aumento del 3.1%, mientras que tanto las propiedades de nivel medio como las de lujo aumentaron un 1.8%. Entre los principales mercados, Anaheim lideró con un aumento del 7.7%, seguido de Cambridge (5.4%) y Nueva York (5.3%). Solo dos mercados mostraron caídas: Tampa (-3.3%) y Oakland (-0.3%).
El Economista Jefe Mark Fleming señaló que a pesar de las tasas hipotecarias más altas, los precios de las viviendas han demostrado ser resistentes, apoyados por un mercado laboral saludable y un aumento en el inventario de viviendas en comparación con el año anterior.
퍼스트 아메리칸 데이터 & 애널리틱스가 2024년 11월 주택 가격 지수(HPI) 보고서를 발표하였으며, 로스앤젤레스-롱비치-글렌데일 지역의 주택 가격이 전년 대비 1.4% 증가했음을 보여주고 있습니다. 이는 월간 기준으로는 -0.3% 감소한 수치입니다. 전국 HPI는 전년 대비 3.9% 증가했으며, 가격은 역사적 기준과 일치하고 있습니다.
LA 메트로 지역에서 시초 단계 주택은 3.1% 증가했으며, 중급 및 고급 주택은 각각 1.8% 상승했습니다. 주요 시장 중에서는 아나하임이 7.7% 증가로 선두를 차지했습니다, 뒤를 이어 케임브리지(5.4%)와 뉴욕(5.3%)이 있습니다. 오직 두 시장만이 감소를 보였습니다: 탬파(-3.3%)와 오클랜드(-0.3%).
최고 경제학자 마크 플레밍은 높은 주택담보대출 금리에도 불구하고 주택 가격이 질 높은 노동시장과 작년 대비 증가한 주택 재고에 의해 지지받아 탄력성을 보여주었다고 언급했습니다.
First American Data & Analytics a publié son rapport sur l'indice des prix des maisons (HPI) de novembre 2024, montrant que la région de Los Angeles-Long Beach-Glendale a connu une augmentation de 1,4% sur un an des prix des maisons, malgré une baisse de -0,3% par rapport au mois précédent. L'HPI national a affiché une augmentation de 3,9% sur un an, les prix restant alignés avec les normes historiques.
Dans la zone métropolitaine de LA, les maisons de premier niveau ont enregistré une augmentation de 3,1%, tandis que les propriétés de niveau moyen et de luxe ont augmenté de 1,8%. Parmi les grands marchés, Anaheim a mené avec une augmentation de 7,7%, suivie de Cambridge (5,4%) et de New York (5,3%). Deux marchés seulement ont montré des baisses : Tampa (-3,3%) et Oakland (-0,3%).
L'économiste en chef Mark Fleming a noté qu'en dépit de taux hypothécaires plus élevés, les prix des maisons se sont révélés résilients, soutenus par un marché du travail sain et une augmentation de l'inventaire immobilier par rapport à l'année précédente.
First American Data & Analytics hat seinen Bericht über den Home Price Index (HPI) für November 2024 veröffentlicht, der zeigt, dass das Gebiet Los Angeles-Long Beach-Glendale einen Jahresvergleich von 1,4% Anstieg bei den Immobilienpreisen erlebt hat, trotz eines Rückgangs von -0,3% im Vergleich zum Vormonat. Der nationale HPI wies einen Jahresanstieg von 3,9% auf, wobei die Preise im Einklang mit historischen Normen blieben.
Im LA-Metro-Bereich stiegen die Einstiegspreise um 3,1%, während sowohl mittlere als auch luxuriöse Immobilien um 1,8% zunahmen. Unter den großen Märkten führte Anaheim mit einem Anstieg von 7,7%, gefolgt von Cambridge (5,4%) und New York (5,3%). Nur zwei Märkte zeigten einen Rückgang: Tampa (-3,3%) und Oakland (-0,3%).
Chefökonom Mark Fleming bemerkte, dass trotz höherer Hypothekenzinsen die Immobilienpreise widerstandsfähig waren, unterstützt durch einen gesunden Arbeitsmarkt und ein erhöhtes Wohnungsangebot im Vergleich zum Vorjahr.
- None.
- None.
National House Prices Hover Near Historical Norms
—Steady, single-digit house price growth signals a return to normal following the pandemic-to-post-pandemic roller-coaster ride, says Chief Economist Mark Fleming—
November1 Home Price Index
|
|
Metric |
Change in HPI |
October-November 2024 (month over month) |
-0.3 percent |
November 2023-November 2024 (year over year) |
+1.4 percent |
National HPI |
|
Metric |
Change in HPI |
October-November 2024 (month over month) |
-0.01 percent |
November 2023-November 2024 (year over year) |
+3.9 percent |
Chief Economist National HPI Analysis:
“After a nearly year-long slow down, national house prices re-accelerated modestly for the first time since December 2023 on an annualized basis, but remain in line with historical norms,” said Mark Fleming, chief economist at First American. “As the housing market adjusts to the new normal of higher mortgage rates, buyers and sellers are gradually returning, supported by a healthy labor market and more homes for sale compared to last year. The result is steady, single-digit house price growth, reflecting a market returning to normal following the pandemic-to-post-pandemic roller-coaster ride.”
Year-Over-Year Price-Tier Data for the Los Angeles-Long Beach-Glendale Metro Area: November 2023 to November 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 |
|
|
|
|
“While some may have expected sustained higher mortgage rates to drive widespread house price declines, prices have proven resilient, falling in only two markets year over year last month,” said Fleming. “House prices tend to be ‘downside sticky’ because home sellers would rather withdraw from the market than sell at a discount.”
November 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 |
|
+7.9 percent |
+8.2 percent |
+2.3 percent |
|
+6.2 percent |
+3.0 percent |
+1.8 percent |
|
+6.1 percent |
+5.8 percent |
+6.2 percent |
|
+5.7 percent |
+5.8 percent |
+5.6 percent |
|
+5.5 percent |
+6.3 percent |
+6.0 percent |
Additional November 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+7.7 percent |
|
+5.4 percent |
|
+5.3 percent |
|
+5.1 percent |
|
+5.0 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decease in HPI |
|
|
-3.3 percent |
|
-0.3 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 January 20, 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. © 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241226749962/en/
Media Contact:
Marcus Ginnaty
Corporate Communications
First American Financial Corporation
(714) 250-3298
Investor Contact:
Craig Barberio
Investor Relations
First American Financial Corporation
(714) 250-5214
Source: First American Data & Analytics
FAQ
What was the year-over-year home price change in Los Angeles-Long Beach-Glendale for November 2024?
How did different price tiers perform in the Los Angeles market in November 2024?
Which metropolitan area showed the highest home price increase in November 2024?
How many markets showed price declines in the November 2024 FAF report?
What was the national home price change according to First American's November 2024 HPI report?
Which city showed the highest starter-tier home price growth in November 2024?
