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California Luxury Home Values Decrease
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Posted on
Nov 21 2008 4:51 AM
by
adeal
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California luxury home prices declined in the third quarter of 2008 from a year ago and from the second quarter of 2008, according to the First Republic Prestige Home Index(TM) by First Republic Bank, a leading provider of private banking, private business banking and wealth management services. In the quarter ended Sept. 30, 2008, the Index indicated the following: -- Los Angeles area values fell 1.9% from the second quarter of 2008 and 4.2% from the third quarter of 2007. The average luxury home in Los Angeles is now $2.33 million.
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