California Metro Home Prices Down
Steven Huang | October 25, 2022
Los Angeles
Steven Huang | October 25, 2022
Los Angeles
The newly released S&P Core Logic Case-Shiller Index for August 2022 shows downward home price trends since May 2022 for the San Francisco and Los Angeles metro areas. This index is the most accurate home price metric but has a longer lag than other data points like median home prices and inventory, which also point to lowering home prices. On an annual basis, August 2022 home values are still higher than same month in 2021 by 13% nationally, and by 12.09% in LA Metro and by 5.57% in Bay Area. Compared to July 2022 through, prices fell by 2.25% in LA Metro and by 4.25% in Bay Area in one month. In all 20 cities tracked in this index, prices fell month-over-month. In particular, the coastal cities of San Francisco, Seattle and San Diego saw the largest home price decreases.
Source: spglobal.com
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