Here's a crazy statistic: between June 2012 and June 2013, house prices rose in 99 of the 100 largest cities in the country. And they rose fastest of all in metro Los Angeles. This is according to the latest numbers from research firm CoreLogic, which says that, nationally, house prices rose faster in the past year than in any year since 1977. Lordy. But don't go getting vertigo just yet. Another set of numbers out today, this time from real estate website Trulia, indicate that price increases slowed down in LA between April and July. While these findings are similar to those in the most recent report from the researchers who produce the Case-Shiller index, note that Trulia looks only at asking prices, not sale prices, so this may not mean much.
· Home Price Index Report [CoreLogic]
· Trulia Reports Asking Home Price Slowdown amid Rising Mortgage Rates, Expanding Inventory, and Declining Investor Interest [BusinessWire]