Orange County home prices up six months and counting
Photo by Steven Damron
Orange County home prices have gone up for six straight months as of the end of November 2009 according to the nationally recognized S&P/Case-Shiller Home Price Indices. The Indices indicate that nationally price declines have been lessening and in particular highlight the Los Angeles/Orange County area:
” . . . there are still some markets that continue to improve month-over-month. Los Angeles, Phoenix, San Diego and San Francisco have seen prices increase for at least six consecutive months.”
These Indices generally have a delay, which is why we are now getting November information. These Indices have also tended to show lower price increases than sources that use median price as a measure, so they are a more conservative indicator of where the market is. For example, Dataquick shows that as of the end of December, prices were up over 10% from the year before based on median prices.