Another home price hit

More bad news - mostly - from the widely followed S&P/Case-Shiller index. L.A.-area prices fell 1.6 percent in July from a month earlier and 26.2 percent from a year earlier. As has been the pattern, L.A. is among the worst-performing metro areas (only Phoenix, Vegas and Miami have had bigger price drops). Among all markets surveyed, the index fell 16.3 percent from a year earlier, more than was forecast. It has fallen every month since January 2007. One bit of promising news: Six of the cities surveyed posted July price increases from the previous month. Here's the press release and here's a Bloomberg story.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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