Real Estate Economics releases true price appreciation report for California: 11.8% appreciation in the past 12 months.
Irvine, CA September 10, 2013-
Real Estate Economics is a leading provider of economics and housing statistics, offering a complete suite of web-based analytic tools and site-specific consulting services. Now, in addition to their consulting and market research tools, REE is launching the True Measures of Price Appreciation Report.
In the past 12 months the overall measure of price appreciation has been 11.8%. The measure is based upon the change in price associated with the current median home size in California. Price appreciation, however, has skewed towards smaller homes.
From 2012 to 2013 the year-over-year change in price has been 15.6% at a home size of 1,000 square feet, and has been 9.4% for a home size of 3,000 square feet. Though the percentage rate of appreciation has fallen as the home size has increased, the absolute dollar amount has increased.
“True price appreciation isn’t just one number or percentage for a given market,” said Mark Boud, Principal and Chief Economist of Real Estate Economics. “Rather, true measures of price appreciation tend to change throughout this home size spectrum.”
This 1-page report provides accurate price appreciation by taking into consideration specific market factors, such as changes in product mix and the impact of distressed housing. True Measures of Price Appreciation Report can be created on a county, MSA or state level within REE's 13-state coverage area and is part of REE's complete suite of web-based analytic tools.
True Measures of Price Appreciation Report is available for immediate download at RealEstateEconomics.com
Clients of REE can take advantage of a variety of services provided entirely from the company’s website. The ‘True Measurement of Price Appreciation’ is just one of dozens of reports clients can run from the website.
For more information on how Real Estate Economics can help homebuilders, real estate and finance industries, please visit www.RealEstateEconomics.com or call (949) 502- 5151.
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