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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Los Angeles
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Celebrity-filled Los Angeles continues to be one of the most expensive places to live in the country, evidenced by the fact that housing prices consume 89 percent of income, according to John Burns Real Estate Consulting. That also places the town on the Housing Cycle Barometer's list of markets susceptible to a bubble. It's also the second most expensive reported condo market, at $402,000, sandwiched in between San Francisco on the higher end and the San Diego area, according to the National Association of Realtors.
4th quarter 2006: $586,500
Median price 4th qtr 2005: $568,400
% change: +3.2%
Projected avg price end of 2007: $571,490
Current avg 30-year fixed rate: 5.77%
Current avg 5/1 ARM rate 5.54%
*Affordability rating: 9.2
Foreclosures in Jan. 2006:
(1 for every 1,235 households)
2,648
Foreclosures in Jan. 2007:
(1 for every 1,025 households)
3,192
Change in foreclosures: +20.54%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $568,400
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 3.2% to $586,500
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007


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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.11%
15 yr fixed mtg 3.22%
5/1 ARM 3.46%
Rates may include points
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