Home Values Have Stabilized In Many Regions Of California, TRW REDI Reports.ANAHEIM, Calif.--(BUSINESS WIRE)--May 9, 1996--A new report by TRW TRW The Real World (TV reality show) TRW The Right Way TRW Tactical Reconnaissance Wing TRW The Retriever Weekly (University of Maryland, Baltimore, MD) TRW Thompson Ramo Wooldridge Inc REDI Property Data, a nationwide real estate information company, indicates that in many parts of California the rate of decline in home values has either slowed down or values are showing signs of a slight uptick Uptick A transaction occurring at price above its previous transaction. In order for an uptick to occur, a transaction price must be followed by an increased transaction price. . The San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay stands out as a region where values went up in the first quarter of 1996 compared to the same period a year ago. TRW REDI's figures which are based on a "repeat sales model" tracks the resale value of the same homes and is regarded in the industry as more accurate than average and median price measures. Within the Bay Area, home values increased by 1.2 percent in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden County and Santa Clara Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. has shown increases for two consecutive first quarters. In Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , value declines have slowed down significantly in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Ventura and Riverside. In Orange County, however, there is as yet no sign of market stabilization. "These most recent figures give rise to a more optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op view of the housing market in California in the near future with the Bay Area in a clear lead position and the nation's largest housing market, Los Angeles, showing signs of improvement," said Nima Nattagh, TRW REDI's market analyst. -0- Change in Home Values Based on a Repeat Sales Model
CHANGE
COUNTY 94Q1-95Q1 95Q1-96Q1
San Francisco -0.4% 1.2%
Monterey -0.1% 1.1%
Santa Clara 1.5% 0.3%
Marin 0.5% 0.1%
Fresno -7.4% -0.1%
Solano -6.5% -0.3%
Ventura -2.7% -1.6%
Riverside -4.0% -2.0%
Sonoma 0.5% -2.1%
San Mateo 2.0% -2.4%
Alameda -3.1% -3.4%
Los Angeles -6.8% -3.9%
San Diego -4.0% -4.1%
Contra Costa -3.6% -4.1%
Kern -2.2% -4.4%
Orange -3.4% -5.2%
Santa Barbara -1.3% -5.3%
Sacramento -5.3% -5.6%
San Bernardino -4.3% -7.4%
Napa -0.4% -8.7%
NOTE TO EDITORS: Figures on value changes compiled by TRW REDI and MRAC. CONTACT: TRW REDI, Anaheim, Calif. Nima Nattagh, 714/701-2263 |
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