Orange County Homes Gain Value

House prices projected to jump 7.9% in a year
October 25, 2009
California may end up with third-highest appreciation rate in the nation.
By JEFF COLLINS
U.S. house prices will stop falling in March and are projected to be up 4.6 percent by
August 2010, Santa Ana-based data cruncher First American CoreLogic is predicting.
In California, the rate of appreciation will be even higher: up 7.9 percent from this
August. If true, California will have the nation’s third-highest appreciation rate, trailing
Maine (projected to be up 12.1 percent) and New Hampshire (up 11.6 percent).
Florida’s rate is projected to be fourth at 7.3 percent next August.
In addition, First American reported:
U.S. house prices dropped 10.1 percent this August compared with a year earlier.
California ranked fourth in price drops with a year-over-year decline of 12.9 percent in
August.
The biggest drops occurred in Nevada (down 24.4 percent), Arizona (down 19.5 percent)
and Florida (down 16.8 percent).
Excluding the sale of bank-owned homes and short sales, price drops were less severe.
U.S. prices for non-distressed homes were down just 6.2 percent.
In California non-distressed home prices were down 7.9 percent from August 2008.