This article first appeared in the PR October 2009
issue of Pro Remodeler.
Population: 12,872,808 (4.1 percent increase since 2000)
Existing home sales: Q2 2009 sales were up 27.5 percent from 2008 and up 36.4 percent from Q1
Home prices:
- Down 17.8 percent from 2008
- Down 41.3 percent from September 2006 local peak
- Down 22 percent over last 5 years
- Up 66.5 percent over last decade
Homeownership rate: 49.8 percent (No. 75 among major metros)
Median household income: $56,680
Local unemployment rate: 11.7 percent (up from 7.6 percent in 2008)
Sources: California Association of Realtors, S&P/Case Shiller Home Price Index, U.S. Bureau of Labor Statistics, U.S. Census Bureau
RELATED LINKS
Los Angeles Times: Recession may forge a housing shift in California
Forbes: Hard Times in the High Desert
2008 Innovators: One Week Bath
Data and information on the Los Angeles remodeling market