ABC123_IHB
New member
<a href="http://lansner.freedomblogging.com/2009/03/12/biggest-home-price-gainers-now-biggest-losers-study-shows/16367/">Biggest home-price gainers now biggest losers</a>
<blockquote>March 12th, 2009, 12:05 am ? 38 Comments ? posted by Jeff Collins
The hottest housing markets during the housing boom tended to be the biggest losers when the bubble burst, a new study of Southern California communities shows.
Nine of Orange County?s top 10 losers were among the top 12 gainers during the run-up to price peaks, according to a Concord Group analysis of DataQuick housing figures.
Regionwide, the top five hardest-hit markets were among the top 10 price gainers from 2000 until the market peak, the Newport Beach consulting firm reported.
The Concord Group analyzed 237 markets in six counties that had 20 or more home sales in the fourth quarter of 2008. It compared median prices in 2000 to each market?s peak median (generally between spring 2006 and fall 2007), then compared the price change from each market?s peak to the fourth quarter 2008.
?The biggest losers tended to be suburban and exurban markets located on the fringe of development. Conversely, those markets that had the lowest percentage run-ups from 2000 tended to be the least hard hit during the recent housing market downturn. These markets primarily included affluent coastal markets as well as a number of San Gabriel Valley cities.?
Results for Orange County show:
* The top 10 price gainers saw increases averaging 207% during the price run-up, compared to a countywide average of 170%.
* The top 10 price losers saw drops averaging 47%, compared to a countywide average of 34%.
* San Juan Capistrano had the largest percentage decline out of 36 O.C. markets, down 59%. During the housing boom, its median price increased 182%, the county?s 10th biggest gain.
* Santa Ana had the second-highest percentage drop in prices with the median falling 56%, followed by Foothill Ranch (-53%), Stanton (-47%), and Lake Forest (-46%).
* The smallest percentage drops occurred in Corona del Mar (-8%), Irvine (-18%), Newport Coast (-22%), Huntington Beach (-22%), and Dana Point (-22%).
* The median price for the top 10 losers averaged $328,700; the median for the 10 communities with the smallest price drops was $920,050.
* Exceptions to the trend included Lake Forest, Newport Coast, Corona del Mar and the rest of Newport Beach. Lake Forest, which had the fifth-largest price drop, ranked 21st out of 35 communities in price gains. Newport Coast, Corona del Mar and the rest of Newport Beach had some of the biggest percentage gains before the peak but small price drops since the peak.
Orange County had two cities (San Juan Capistrano and Santa Ana) among the top 20 losers in all of Southern California. San Juan Capistrano ranked 6th in the region, while Santa Ana ranked 13th.
Two O.C. markets (Corona del Mar and Irvine) ranked among SoCal?s 20 least-affected markets. Corona del Mar had the region?s second-smallest decline; Irvine had the 15th-smallest.
In other SoCal findings, the report showed:
* All markets in the survey had price declines since hitting their respective peak prices.
* Inland Empire communities made up 12 of the 20 hardest-hit markets since price drops began.
* The five markets with the biggest price drops were: Thermal, San Bernardino, Adelanto, Desert Hot Springs and Bloomington, all in the Inland Empire. The average price gain in those markets during the run-up was 327%. The average decline since the peak: 67%.
* The five markets with the smallest price declines were: Beverly Hills, Corona del Mar, Ridgecrest, Temple City and Arcadia. Those markets had an average price decline of 10% and an average price run-up from 2000 to the peak of 163%.
</blockquote>
<blockquote>March 12th, 2009, 12:05 am ? 38 Comments ? posted by Jeff Collins
The hottest housing markets during the housing boom tended to be the biggest losers when the bubble burst, a new study of Southern California communities shows.
Nine of Orange County?s top 10 losers were among the top 12 gainers during the run-up to price peaks, according to a Concord Group analysis of DataQuick housing figures.
Regionwide, the top five hardest-hit markets were among the top 10 price gainers from 2000 until the market peak, the Newport Beach consulting firm reported.
The Concord Group analyzed 237 markets in six counties that had 20 or more home sales in the fourth quarter of 2008. It compared median prices in 2000 to each market?s peak median (generally between spring 2006 and fall 2007), then compared the price change from each market?s peak to the fourth quarter 2008.
?The biggest losers tended to be suburban and exurban markets located on the fringe of development. Conversely, those markets that had the lowest percentage run-ups from 2000 tended to be the least hard hit during the recent housing market downturn. These markets primarily included affluent coastal markets as well as a number of San Gabriel Valley cities.?
Results for Orange County show:
* The top 10 price gainers saw increases averaging 207% during the price run-up, compared to a countywide average of 170%.
* The top 10 price losers saw drops averaging 47%, compared to a countywide average of 34%.
* San Juan Capistrano had the largest percentage decline out of 36 O.C. markets, down 59%. During the housing boom, its median price increased 182%, the county?s 10th biggest gain.
* Santa Ana had the second-highest percentage drop in prices with the median falling 56%, followed by Foothill Ranch (-53%), Stanton (-47%), and Lake Forest (-46%).
* The smallest percentage drops occurred in Corona del Mar (-8%), Irvine (-18%), Newport Coast (-22%), Huntington Beach (-22%), and Dana Point (-22%).
* The median price for the top 10 losers averaged $328,700; the median for the 10 communities with the smallest price drops was $920,050.
* Exceptions to the trend included Lake Forest, Newport Coast, Corona del Mar and the rest of Newport Beach. Lake Forest, which had the fifth-largest price drop, ranked 21st out of 35 communities in price gains. Newport Coast, Corona del Mar and the rest of Newport Beach had some of the biggest percentage gains before the peak but small price drops since the peak.
Orange County had two cities (San Juan Capistrano and Santa Ana) among the top 20 losers in all of Southern California. San Juan Capistrano ranked 6th in the region, while Santa Ana ranked 13th.
Two O.C. markets (Corona del Mar and Irvine) ranked among SoCal?s 20 least-affected markets. Corona del Mar had the region?s second-smallest decline; Irvine had the 15th-smallest.
In other SoCal findings, the report showed:
* All markets in the survey had price declines since hitting their respective peak prices.
* Inland Empire communities made up 12 of the 20 hardest-hit markets since price drops began.
* The five markets with the biggest price drops were: Thermal, San Bernardino, Adelanto, Desert Hot Springs and Bloomington, all in the Inland Empire. The average price gain in those markets during the run-up was 327%. The average decline since the peak: 67%.
* The five markets with the smallest price declines were: Beverly Hills, Corona del Mar, Ridgecrest, Temple City and Arcadia. Those markets had an average price decline of 10% and an average price run-up from 2000 to the peak of 163%.
</blockquote>
