The S & P/Case-Shiller Home Price Indices have been published as of the end of the third quarter 2013. Standard and Poor’s 500 Index collects information on the prices of homes in 20 cities across the country. Below is the graph for Los Angeles.*
The highest index of 273.80 was in 2006 at the height of the “bubble.” It fell to 159.37 in April 2009 and stayed relatively flat until March of 2012 when the index began to move up again. It rose 53 points in the 18 months which is approximately 33% growth (22% annualized growth.)
By way of comparison, the run-up in values from March 2003 to March 2006 was just over 126 points (47% annualized growth.)
For more information about the indices, visit the Standard and Poor’s website: www.standardandpoors.com.