So is it really this easy to see where home prices are going? This nice graph is courtesy of Altos Research, if you look at their page they have other graphs, such as time on market and amount of inventory, to look at too. The graph is showing you their sales price about single family home sales in Long Beach since September, 2006. They are not including condos.
If you look at Dataquick's January sales zip code chart, you can see some actual break downs. You might see prices have gone up or down in your area from one year ago.
If you're really serious about more input on decisions to buy or sell, try reading real estate broker and economist Gary Watts' 8 pages or so of A Little Bit of Heaven in 2007. Trying thinking about the long term view if you're in the market to purchase a home. So what if the price went down 5% from last year or it went up 5%. If you're going to be in your house for at least several years, the rise and fall of your tax deductions, interest rates and other future market conditions would probably make it all a wash. Your house is not a cash flow cow, it's a place of comfort and security. This report is intended for Realtors and was presented last Friday to our Board of Realtors, but I'm sharing it with you because it has a lot of good stuff in it! Just read it and think.
Long Beach, CA
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