Los Angeles-Long Beach-Glendale Home Prices Up 2.0% Year Over Year in September, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its September 2024 Home Price Index (HPI) report, revealing that Los Angeles-Long Beach-Glendale home prices increased 2.0% year-over-year. The national HPI showed a 3.9% year-over-year increase, marking the slowest pace since summer 2023. Chief Economist Mark Fleming noted that while home prices reached a new record high in September, the pace of growth continues to slow.
The report segments price changes into three tiers: starter, mid-tier, and luxury. In the Los Angeles-Long Beach-Glendale metro area, the mid-tier saw the highest appreciation at 3.3%, followed by the starter tier at 1.6%, and the luxury tier at 1.4%. Fleming highlighted strong demand from first-time home buyers facing inventory in the starter home price tier across many markets.
Among the highlighted metros, St. Louis led with a 10.5% increase in the starter tier HPI, while Anaheim, California topped the overall HPI increase at 7.0%. The report suggests that lower mortgage rates have improved affordability, potentially stimulating demand in the coming months.
First American Data & Analytics ha rilasciato il suo rapporto sull'Home Price Index (HPI) di settembre 2024, rivelando che i prezzi delle case nella zona di Los Angeles-Long Beach-Glendale sono aumentati del 2,0% rispetto all'anno precedente. L'HPI nazionale ha mostrato un aumento del 3,9% su base annua, segnando il ritmo più lento da estate 2023. Il capo economista Mark Fleming ha sottolineato che, sebbene i prezzi delle case abbiano raggiunto un nuovo livello record a settembre, il ritmo di crescita continua a rallentare.
Il rapporto segmenta le variazioni di prezzo in tre categorie: ingresso, fascia intermedia e lusso. Nella zona metropolitana di Los Angeles-Long Beach-Glendale, la fascia intermedia ha registrato l'apprezzamento più alto con il 3,3%, seguita dalla fascia di ingresso con l'1,6% e dalla fascia di lusso con l'1,4%. Fleming ha evidenziato una forte domanda da parte dei compratori di case per la prima volta, che affrontano una limitata disponibilità nella fascia dei prezzi delle case d'ingresso in molti mercati.
Tra le aree metropolitane evidenziate, St. Louis ha guidato con un aumento del 10,5% nell'HPI della fascia d'ingresso, mentre Anaheim, California, ha raggiunto il massimo aumento complessivo dell'HPI con il 7,0%. Il rapporto suggerisce che tassi di interesse ipotecari più bassi hanno migliorato l'affordability, potenzialmente stimolando la domanda nei prossimi mesi.
First American Data & Analytics publicó su informe del índice de precios de vivienda (HPI) de septiembre de 2024, revelando que los precios de las viviendas en el área de Los Ángeles-Long Beach-Glendale aumentaron un 2,0% interanual. El HPI nacional mostró un aumento del 3,9% en comparación con el año anterior, marcando el ritmo más lento desde el verano de 2023. El economista jefe Mark Fleming señaló que, aunque los precios de las viviendas alcanzaron un nuevo récord en septiembre, el ritmo de crecimiento sigue desacelerándose.
El informe divide los cambios de precio en tres categorías: de iniciación, intermedia y de lujo. En el área metropolitana de Los Ángeles-Long Beach-Glendale, la categoría intermedia vio la mayor apreciación con un 3,3%, seguida de la categoría de iniciación con un 1,6% y la categoría de lujo con un 1,4%. Fleming destacó la fuerte demanda de compradores de vivienda por primera vez, que enfrentan una escasez de inventario en la categoría de precios de vivienda de iniciación en muchos mercados.
Entre las áreas metropolitanas destacadas, St. Louis lideró con un aumento del 10,5% en el HPI de la categoría de iniciación, mientras que Anaheim, California, encabezó el aumento general del HPI con un 7,0%. El informe sugiere que las tasas hipotecarias más bajas han mejorado la asequibilidad, lo que potencialmente estimularía la demanda en los próximos meses.
퍼스트 아메리칸 데이터 & 애널리틱스는 2024년 9월 주택 가격 지수(HPI) 보고서를 발표하며 로스앤젤레스-롱비치-글렌데일 지역의 주택 가격이 전년 대비 2.0% 상승했다고 밝혔습니다. 전국 HPI는 전년 대비 3.9% 상승했으며, 이는 2023년 여름 이후 가장 느린 증가율입니다. 수석 경제학자인 마크 플레밍은 9월에 주택 가격이 새로운 기록을 세웠지만, 성장세는 계속해서 둔화되고 있다고 언급했습니다.
보고서에서는 가격 변화를 시작, 중간 및 고급의 세 가지 범주로 나누었습니다. 로스앤젤레스-롱비치-글렌데일 대도시 지역에서 중간 범주는 3.3%로 가장 높은 상승률을 보였고, 다음으로 시작 범주가 1.6%, 고급 범주가 1.4%의 상승률을 기록했습니다. 플레밍은 1차 주택 가격 범주에서 재고에 직면한 첫 주택 구매자의 강한 수요를 강조했습니다.
주요 대도시 지역 중 세인트루이스는 시작 범주 HPI에서 10.5% 증가로 선두를 차지했습니다, 반면 애너하임, 캘리포니아는 전체 HPI 증가에서 7.0%로 가장 높았습니다. 보고서는 낮은 모기지 금리가 주거 안정성을 개선하고, 향후 몇 달 동안 수요를 자극할 수 있음을 시사합니다.
First American Data & Analytics a publié son rapport sur l'indice des prix des maisons (HPI) de septembre 2024, révélant que les prix des maisons dans la région de Los Angeles-Long Beach-Glendale ont augmenté de 2,0% par rapport à l'année précédente. L'HPI national a montré une augmentation de 3,9% d'une année sur l'autre, marquant le rythme le plus lent depuis l'été 2023. L'économiste en chef Mark Fleming a noté que, bien que les prix des maisons aient atteint un nouveau record en septembre, le rythme de croissance continue de ralentir.
Le rapport segmente les changements de prix en trois catégories : débutant, intermédiaire et luxe. Dans la zone métropolitaine de Los Angeles-Long Beach-Glendale, la catégorie intermédiaire a enregistré la plus forte appréciation avec 3,3%, suivie de la catégorie de débutant avec 1,6% et de la catégorie luxe avec 1,4%. Fleming a souligné la forte demande des primo-accédants face à un stock limité dans la catégorie des prix des maisons de début.
Parmi les métropoles mises en avant, St. Louis a mené avec une augmentation de 10,5 % de l'HPI de la catégorie débutant, tandis qu'Anaheim, Californie, a été en tête de l'augmentation globale de l'HPI avec 7,0%. Le rapport suggère que des taux hypothécaires plus bas ont amélioré l'accessibilité, ce qui pourrait stimuler la demande dans les mois à venir.
First American Data & Analytics hat ihren Bericht zum Hauspreisindex (HPI) für September 2024 veröffentlicht und festgestellt, dass die Immobilienpreise in der Region Los Angeles-Long Beach-Glendale um 2,0% im Vergleich zum Vorjahr gestiegen sind. Der nationale HPI zeigte einen Anstieg von 3,9% im Jahresvergleich, was das langsamste Wachstum seit dem Sommer 2023 bedeutet. Chefökonom Mark Fleming stellte fest, dass, obwohl die Immobilienpreise im September ein neues Rekordhoch erreicht haben, das Wachstumstempo weiterhin langsamer wird.
Der Bericht segmentiert Preisänderungen in drei Kategorien: Einstieg, Mittelklasse und Luxus. Im Ballungsraum Los Angeles-Long Beach-Glendale verzeichnete die Mittelklasse mit 3,3% die höchste Wertsteigerung, gefolgt von der Einstiegsklasse mit 1,6% und der Luxusklasse mit 1,4%. Fleming hob die starke Nachfrage von Erstkäufern hervor, die in vielen Märkten mit einem begrenzten Angebot in der Einstiegspreisklasse konfrontiert sind.
Unter den hervorgehobenen Metropolen führte St. Louis mit einem Anstieg von 10,5% im HPI der Einstiegsklasse, während Anaheim, Kalifornien, beim allgemeinen HPI-Anstieg mit 7,0% an der Spitze lag. Der Bericht deutet darauf hin, dass niedrigere Hypothekenzinsen die Erschwinglichkeit verbessert haben, was möglicherweise die Nachfrage in den kommenden Monaten ankurbeln könnte.
- None.
- None.
House Price Growth Nationally Slips to Slowest Pace in Over a Year
—Slowdown Likely to Continue in the Near Term, but a Re-Acceleration May be on the Horizon, says Chief Economist Mark Fleming—
September1 Home Price Index
Los-Angeles-Long Beach-Glendale Market |
|
Metric |
Change in HPI |
August-September 2024 (month over month) |
+0.4 percent |
September 2023-September 2024 (year over year) |
+2.0 percent |
National HPI |
|
Metric |
Change in HPI |
August-September 2024 (month over month) |
+0.1 percent |
September 2023-September 2024 (year over year) |
+3.9 percent |
Chief Economist National HPI Analysis:
“Annual house price appreciation nationally slowed for the ninth consecutive month, falling to the slowest pace since the summer of 2023,” said Mark Fleming, chief economist at First American. “While home prices reached a new record high in September, the pace of growth continues to slow. Lower mortgage rates have improved affordability, which will likely stimulate demand in the coming months, especially if rates continue to ease. If housing supply does not increase amid that potential increased demand, it’s possible that price appreciation could accelerate again.”
Year-Over-Year Price-Tier Data for the Los Angeles-Long Beach-Glendale Metro Area: September 2023 to September 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 |
|
|
|
|
“Price appreciation in 11 metros outpaced the national 3.9 percent annual increase, and house prices increased year over year in most markets we track as well,” said Fleming. “The ongoing price pressures in the starter home price tier across many markets highlights strong demand from first-time home buyers now armed with improved house-buying power, who face limited inventory at this price point.”
September 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 |
|
+10.5 percent |
+2.6 percent |
+1.3 percent |
|
+8.0 percent |
+4.0 percent |
+4.9 percent |
|
+7.1 percent |
+6.3 percent |
+5.3 percent |
|
+6.9 percent |
+3.4 percent |
+5.5 percent |
|
+6.7 percent |
+7.7 percent |
+4.1 percent |
Additional September 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 |
|
+6.3 percent |
|
+5.3 percent |
|
+5.2 percent |
|
+5.1 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decrease in HPI |
|
|
-5.8 percent |
|
-0.3 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 November 18, 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.
2 Note:
View source version on businesswire.com: https://www.businesswire.com/news/home/20241016555860/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 for Los Angeles-Long Beach-Glendale in September 2024?
How did national home prices change in September 2024 according to First American (FAF)?
Which price tier saw the highest appreciation in the Los Angeles-Long Beach-Glendale metro area?
What factors could potentially stimulate housing demand according to First American's chief economist?
Which metro area had the highest starter tier HPI increase in September 2024?
