The S & P / Case Shiller Index of Home Prices in the Los Angeles metro area increased approx. 1.4% in December 2009 compared to the prior month, the highest increase in the 20 metropolitan areas tracked by the S & P / Case Shiller Index This is the seventh consecutive month over month increase. Michael Larson, a housing and interest rate analyst with Weiss Research stated " You have broad based stabilization in housing".
The Index is an average of three months, so the December results included sales of homes that closed in October thru December. The index is also computed by comparing sales of detached homes with previous sales and accounts for other factors such as remodeling, therefor is more reflective of trends than other indexes that use the median price of homes sold, which can fluctuate greatly as the mix of the type of homes change.
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