L.A. home prices have appreciated - you just have to go back far enough

The new Case-Shiller report shows a 0.8 percent drop in L.A.-area prices from January to February - the latest indication that the housing market has yet to fully recover. But keep in mind that Case Shiller is an index, with a base value of 100 as of January 2000. So by that measure, the price of a typical L.A. home has appreciated by 59.5 percent, topped only by Washington, D.C. (75.7 percent) and NY (59.6 percent). Of course, there is a catch to those numbers: They're down by huge amounts since the market meltdown. L.A., for instance, peaked at 173.9 percent appreciation in September 2006. It's been pretty much all down since then. Other cities, as of February:

--San Diego 49.7
--Boston 46.2
--Miami 39.5
--Portland 29.6
--Seattle 28.99
--San Francisco 24.6
--Tampa 23.9
--Denver 21.8
--Dallas 12.7
--Minneapolis 10.2
--Charlotte 8.1
--Chicago 5.4
--Phoenix 4.1

Cleveland, Vegas, Atlanta, and Detroit have negative appreciation.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Real estate stories:
Socal housing market going nowhere fast
Stability returns to housing market
Home flipping by and for the favored few
LA to get denser and denser and denser
Home sales cooling off a bit

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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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