February 24, 2023

3 min read

Parcl Labs Predicts Case Shiller Index for December in Los Angeles

Parcl Labs Predicts Case Shiller Index for December in Los Angeles

Real Estate Analytics

Parcl Labs, a provider of real estate analytics, has predicted the Case Shiller Index for December in Los Angeles. Their prediction indicates a slight decrease in the housing market compared to November, which has seen a continuous downward trend since December 2022.

Housing Market in Los Angeles

Case Shiller December Predictions

The Case Shiller Index, a widely recognized metric of the housing market, is based on repeated sales methodology of single-family residences only. Its report is two months lagged and releases on a monthly basis. Parcl Labs has predicted the Case Shiller Index for December in Los Angeles to be 390.73, a -0.3% decrease compared to November's recorded value of 391.99.

Housing Correction Territory

The Los Angeles housing market has seen a -12.21% decrease from its peak in 2022, putting it in housing correction territory. It is worth noting that the Case Shiller Index only evaluates single-family residences and therefore does not reflect the entire housing market's current state. Over the last 12 months, 25.64% of real estate sales in Los Angeles were condos or townhomes, which are not factored into the Case Shiller Index.

All Case Shiller 10 Markets

A report of the findings from Decembers predictions for all Case Shiller 10 markets, which includes:

Can be found at Market Update: Predicting Case Shiller Numbers for December

FAQ

What is the Case Shiller Index?

The Case Shiller Index is a repeated sales methodology that evaluates the housing market's state based on single-family residences only. Its report is two months lagged and releases on a monthly basis.

What does the Case Shiller Index for December indicate for Los Angeles?

The predicted Case Shiller Index value for December in Los Angeles is 390.73, which is a -0.3% decrease compared to November.

What is housing correction territory?

Housing correction territory is when the housing market has seen a decrease of more than 10% from its peak value.

Conclusion:

In conclusion, Parcl Labs' predicted Case Shiller Index for December in Los Angeles indicates a slight decrease in the housing market compared to November. While the Case Shiller Index is a widely recognized metric of the housing market, it only evaluates single-family residences and does not reflect the entire housing market's current state. It is also worth noting that the Los Angeles housing market has seen a -12.21% decrease from its peak in 2022, putting it in housing correction territory.

The housing market in Los Angeles is an important economic indicator, and Parcl Labs' real estate analytics offer valuable insights into the current state of the market. However, it is important to remember that these predictions are not infallible, and actual results may differ. As such, it is essential to use this information in conjunction with other economic indicators and expert advice when making financial decisions.

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