California tiered home pricing

By Bradley Markano • Jun 29th, 2011 • Category: Charts

 

Charts are updated monthly. There is a two-month lag in reported data.

Chart last updated 6/29/11

Chart last updated 6/29/11

  April 2011 March 2011 April 2010
Low Tier
156
156
162
Mid Tier
155
155
164
High Tier
153
152
161

Chart last updated 6/29/11

Chart last updated 6/29/11

  April 2011 March 2011 April 2010
Low Tier
163 163 163
Mid Tier
170 170 178
High Tier
169 169 174

Chart last updated 6/29/11

Chart last updated 6/29/11

  April 2011 March 2011 April 2010
Low Tier
112 112 118
Mid Tier
132 130 143
High Tier
142 140 148

Chart last updated 6/29/11

Chart last updated 6/29/11

  April 2011 March 2011 April 2010
Low Tier
144 144 148
Mid Tier
152 152 162
High Tier
155 154 161

The above charts track sales price fluctuations of single family residence (SFR) resales in California’s three largest cities. Each city’s sales prices are organized by price tier, giving a clearer picture of how price movement in each tier of the market has developed over time.

Nationwide, March 2011 saw the lowest home prices during this recession, as reported by Standard and Poor’s (S&P). Prices hit new lows in eleven major cities, and dropped in all cities reported except for Washington, D.C.

As the S&P figures charted below indicate, prices in California’s three top cities—unlike the majority of the nation—remain somewhat higher than their worst days, when they bottomed in April and May of 2009. Nonetheless, California is trending toward the “double-dip” real estate recession currently rippling through the national housing market. Home pricing tiers reported in California remained stagnant or slipped in March 2011, and barely rose in April.

The waffling of sales volume and prices is part of the bumpy plateau recovery we will experience well into 2013.

Readers who want to understand the “big picture” of the disparity between low-, middle- and high-tier sales fluctuations will find the Standard & Poor’s/Case-Shiller home price index, represented above, to be an invaluable source of information and price comparisons for California’s three major cities. These charts track changes in specific tiers of property, so you can see how specifically comparable ranges of the market perform in comparison to one another.

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