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Altos Research Real-Time Housing Report - December 2010

Altos Research Real-Time Housing Report - December 2010

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Published by Altos Research
Methodology
The Altos Research Real-Time Housing Report gives you unfettered, up-to-the-minute data relative to housing market conditions in major markets around the nation. With Altos' report is comprised of data that can be used now, not aging, months-old statistics that mean nothing in a market that's in a constant state of flux. Altos Research uses metrics associated with active residential property listings to give you real-time information. We give you the market as it is, not as it was.

Each "market" measured is equivalent to the Census Bureau's Metropolitan Statistical Area (MSA) dominated by the city listed. Properties analyzed in the data include repeat sales of single-family homes, but not condominiums, town homes, or new construction homes. The Altos Research Price Index is a statistical compilation of property prices highly correlated with the S&P/Case-Shiller Index. The Altos 10-City Composite is based on single family homes in Boston, Chicago, New York, Los Angeles, San Diego, San Francisco, Miami, Las Vegas, Washington, DC and Denver. For more information, check out www.AltosResearch.com.
Methodology
The Altos Research Real-Time Housing Report gives you unfettered, up-to-the-minute data relative to housing market conditions in major markets around the nation. With Altos' report is comprised of data that can be used now, not aging, months-old statistics that mean nothing in a market that's in a constant state of flux. Altos Research uses metrics associated with active residential property listings to give you real-time information. We give you the market as it is, not as it was.

Each "market" measured is equivalent to the Census Bureau's Metropolitan Statistical Area (MSA) dominated by the city listed. Properties analyzed in the data include repeat sales of single-family homes, but not condominiums, town homes, or new construction homes. The Altos Research Price Index is a statistical compilation of property prices highly correlated with the S&P/Case-Shiller Index. The Altos 10-City Composite is based on single family homes in Boston, Chicago, New York, Los Angeles, San Diego, San Francisco, Miami, Las Vegas, Washington, DC and Denver. For more information, check out www.AltosResearch.com.

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Published by: Altos Research on Dec 13, 2010
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Real-Time National Housing Update ©Copyright Altos Research, LLC December 2010
 
Altos Research: December 2010:
REAL-TIME HOUSING MARKET UPDATE
Real-Time HousingMarket Update
December 10, 2010
The December housing market begins with a continuation of the seasonal price and inventorydeclines, with asking prices down by 0.45% this month and active inventory down by 3.16%.
In November 2010, the Altos 10-City Price Composite continuedits seasonal decline by 0.45%. Expect weekly declines in price,inventory and demand through the end of the year. Watch thethird week of January before the first inklings of seasonal demanduptick become visible.
November 2010 Highlights
 
The Altos 10-City Composite is now at $456,454, off 0.45% from last month.
 
23 of the 26 major markets tracked by Altos showed price decreases, with the steepestdeclines seen in Washington, DC (down 3.41%), San Diego (down 3.07%), and Salt LakeCity (down 2.63%), respectively.
 
Housing inventory is off seasonally by 3.16% nationwide, with dramatic decreases inseveral major markets, including San Francisco, Boston, and San Jose.
 
Several markets are starting to show potential stability in home prices, including citiessuch as Miami, which begins its seasonal uptick before the national market.
The Altos Reseach 20-City Composite
Starting this month we’re highlighting a different Altos Research data point each month reportingthe trends over the past few years. For December, here’s a look at the 20
-City composite, whichgives a broader national view than the 10-City Composite we use as the basis for this report.
 
 
Real-Time National Housing Update ©Copyright Altos Research, LLC December 2010
 
Figure 1: Featured Chart For December 2010. Altos 20-City Composite includes the same 20 citiesin the S&P Case Shiller Index. Data is for single family homes.
TRENDS: November Home Prices
In November 2010, home prices were off in most markets across the country. Price decreases werein line with what would normally be expected during this period of the year. The Altos 10-CityComposite was relatively flat, showing a decrease of just 0.45% to $456,454..
Altos Research Price Composite
MSA November2010October 2010 September2010% Change LastMonth% Change Over3 Months10-CityComposite*$456,454
$458,518
$465,968 -0.45% -2.04%
San Diego $639,816 $660,085 $682,439 -3.07% -6.25%
 
Salt Lake City $301,433 $309,556 $320,024 -2.63% -5.81%
 
Minneapolis $256,659 $261,916 $268,168 -2.01% -4.29%Los Angeles $618,869 $630,249 $647,884 -1.81% -4.48%Atlanta $199,407 $202,949 $208,065 -1.75% -4.16%San Francisco $688,731 $715,529 $715,529 -1.66% -3.75%
 
San Jose $704,485 $714,855 $730,678 -1.45% -3.58%
 
Seattle $361,803 $367,068 $372,171 -1.43% -2.77%
 
 
Real-Time National Housing Update ©Copyright Altos Research, LLC December 2010
 
MSA November2010October 2010 September2010% Change LastMonth% Change Over3 Months10-CityComposite*$456,454
$458,518
$465,968 -0.45% -2.04%
Las Vegas $150,520 $152,641 $155,044 -1.39% -2.92%Portland $295,032 $298,624 $303,679 -1.20% -2.85%Tampa $185,102 $187,274 $191,098 -1.16% -3.14%
 
Chicago $295,642 $299,126 $304,153 -1.16% -2.80%
 
Cleveland $162,620 $$164,526 $166,934 -1.16% -2.58%
 
Charlotte $218,736 $221,247 $225,096 -1.14% -2.83%
 
Dallas $219,533 $221,870 $225,057 -1.05% -2.45%Philadelphia $318,603 $321,581 $326,129 -0.93% -2.31%Detroit $136,230 $137,509 $138,706 -0.93% -1.78%Houston $216,296 $218,292 $220,548 -0.91% -1.93%Denver $320,716 $323,535 $328,723 -0.87% -2.44%Indianapolis $162,963 $164,162 $165,236 -0.73% -1.38%Austin $279,677 $281,627 $228,449 -0.69% -1.68%Phoenix $217,531 $218,830 $225,857 -0.59% -3.69%Miami $416,015 $415,653 $423,157 0.09% -1.69%New York City $567,570 $565,856 $570,962 0.30% -0.59%

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