skip to main content

Listen

Read

Watch

Schedules

Programs

Events

Give

Account

Donation Heart Ribbon

California Home Prices Continue To Climb

Aired 7/2/13 on KPBS News.

A new report finds California home prices have increased by three-percent since April and about six-times that amount since June of last year.

The data from research firm Clear Capital show double-digit increases in California home values over the past year.

"We have that rate of growth at 19.5-percent. And our projection is for the rest of the year actually forecast for things to continue going up albeit at a much more moderated pace," said Alex Villacorta with Clear Capital. "Moderated pace," Villacorta explained, means about a six-percent increase through the end of 2013.

He said one major factor driving up home values continues to be the shrinking inventory of bank-owned homes, currently at 15.4-percent.

"For historical context, during the height of the downturn that rate reached as high as about 38-percent - so still less than half of where it was back in the crash days," Villacorta explained.

Prices are still down about 40-percent from where they were at the peak of the housing boom circa 2006.

To view PDF documents, Download Acrobat Reader.

Please stay on topic and be as concise as possible. Leaving a comment means you agree to our Community Discussion Rules. We like civilized discourse. We don't like spam, lying, profanity, harassment or personal attacks.

comments powered by Disqus