Home Sales Holding Strong

By JENNIFER OLDHAM

Jan. 28, 2001 12 AM PT

TIMES STAFF WRITER

The Southland’s red-hot housing market leveled off in 2000 after a strong increase in home sales in 1999.

Successive interest rate hikes by the Federal Reserve, coupled with slumping stock markets, worked in part to cause home sales in the six-county Southern California region to post almost imperceptible gains last year.

A total of 302,112 homes and condos sold in 2000 in Los Angeles, Orange, Riverside, San Bernardino, Ventura and San Diego counties, up 0.8% from 299,624 in 1999, according to DataQuick Information Systems, a La Jolla research firm. Analysts had predicted that home sales in the region would drop last year.

“The 2000 [sales] number is almost identical to the 1999 [sales] number, which is counter to virtually all forecasts made last year,” said John Karevoll, a DataQuick analyst. “I think 1999 was so strong that everyone figured the market had to go down a bit last year.”

Los Angeles, Orange, Ventura and San Diego counties did report small decreases in home sales in 2000, while Riverside and San Bernardino charted gains of 9.1% and 5.6%, respectively.

Still, last year’s regional home sales count was the highest since 1989, when 315,721 homes were sold in Southern California, DataQuick found.

Continued job growth, gains in household income, and mortgage interest rates that hovered around 8% kept the market from losing the ground it struggled to take back from a recession that caused regional housing values to plunge in the mid-’90s.

These factors also helped the region’s total housing stock to climb to an all-time high in 2000 of $1.09 trillion, up 15% from $955.3 billion in 1999, according to DataQuick.

A solid gain in home prices accounted for this increase, with the six-county Southern California region charting an annual median home price of $208,000 in 2000, an 8.3% gain from $192,000 in 1999. Los Angeles County’s median home price hit a record $199,000, up 6% from $188,000 in 1999.

San Diego County saw the largest jump in median home prices in 2000, up 13% to $234,000 from $207,000 in 1999. Median home prices were up 12.9% in Orange County, 8.8% in Ventura and Riverside and 6.0% in San Bernardino.

Continued increases in median home prices helped homes in most Southern California communities regain equity lost during the recession.

“We’re just getting to where larger houses are starting to move again,” said Syd Leibovitch, broker and president of Paramount Properties in Woodland Hills. “People who bought homes in 1990 are just starting to have enough equity to sell.”

The San Fernando Valley, where home prices fell markedly from 1990 to 1995, was one of the last communities in Southern California to recover from the recession. Home prices in Los Angeles also reached pre-recession highs for the first time last year.

As home prices continued to appreciate in the region, notices of default, the first step in the foreclosure process, fell to their lowest level since 1992, according to DataQuick. About 52,498 notices of default were recorded in 2000, down 11.1% from 59,045 in 1999.

“As home values go up, fewer people find themselves in an upside-down position where they owe more on a home than it is worth,” Karevoll said.

Appreciation in home prices also boosted more Southern California homes over the million-dollar mark last year. This, and the fact that a strong economy enabled more consumers to buy these homes, pushed million-dollar home sales in the region to an all-time high in 2000, Karevoll said.

About 5,241 homes sold for a million dollars or more in the Southland in 2000, up 31.4% from 3,988 in 1999. By comparison, 3,043 homes sold for a million dollars or more in the region during the market’s peak in 1989, according to DataQuick.

Although million-dollar home sales more than doubled in Orange County in 2000, real estate agents said the slumping Nasdaq dampened these sales last fall and winter.

“Because of the dot-com demise, the very high end--over $1 million--has somewhat softened [here],” said Cameron Merage, president and chief executive of First Team Real Estate, one of the largest brokerages in Orange County. “Not a great deal, but more so than other price ranges.”

While some buyers were priced out of million-dollar homes in Orange County, shrinking inventories throughout the Southland forced others to opt for condominiums.

Culver City’s housing stock usually has 25% more condos than single-family homes, said Steve Miller, branch manager for ReMax Westside Properties. But this month, for the first time since Miller started keeping stats in 1985, Culver City has fewer condos available than homes.

About 29 condos were on the market in Culver City in mid-January, whereas during the same period in 1992--when the recession hit the community hard--222 condos were for sale, Miller said.

Experts say Southern California’s inventory problems aren’t likely to improve in 2001.

Despite a continued rise in construction loan volume in the region in 2000, builders say they expect to build fewer new homes this year. A limited supply of new homes could further increase the gap between new home prices and resale prices, said Alfred J. Gobar, a Placentia-based real estate economist.

Because of a frenzy in new home construction in the late ‘80s, about 22% of the homes sold in 1989 in the Southland were new homes and 78% were resales, Gobar said. But only about 9.7% of home sales through September last year were new homes and 90.3% were resales, he said.

“We’re not producing nearly enough new housing,” Gobar said.

So, even if lower mortgage interest rates, spurred by the Fed’s surprise move a few weeks ago to cut a key interest rate, entice more first-time home buyers into the market, they may have a tough time finding a home to buy.

Consequently, economists are again predicting a downturn in the region’s housing market in 2001. Sales will fall about 2.7% this year, said Leslie Appleton-Young, a chief economist at the California Assn. of Realtors. Median home prices should rise on par with 2000’s gains, she added, posting an 8.5% increase.

Appleton-Young said she doesn’t expect a recession, as long as job growth and consumer confidence remain strong. She adds that if the Fed continues to lower interest rates, as expected, more consumers could afford homes, keeping the region’s housing market strong.

The Fed’s move earlier this month already spurred interest rates lower. The average rate for a 30-year fixed-rate mortgage in Southern California with one point for the week ending Jan. 25 was 6.98%, down 14.6% from 8.17% for the same period a year ago, according to Earl Peattie, president of Mortgage News Co.

But there are still some economic unknowns that could slow the housing market’s pace.

For example, the drop in the stock markets last year erased gains in many consumers’ portfolios, known as the “negative wealth effect,” which could cause some consumers to change their minds about buying a home or moving up in the market.

“One of the big question marks as we go forward is how strong the negative wealth effect will be in terms of pulling people back,” Appleton-Young said. “The consumer confidence index dropped for three months in a row. It’s still high by historical standards, but it is trending down.”

Staff writer Diane Wedner contributed to this report.

(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

TOTALS FOR 2000

LOS ANGELES COUNTY

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Community Zip # Med. Price # Med. Price Home Homes Home Chg. Condos Condo Chnge Price Sold Price From Sold Price From Per ($1000) 1999 ($1000) 1999 SqFt. Los Angeles Co. 81,318 $205 10.2% 22,549 $154 3.7% $153 Acton 93510 110 $251 -1.6% - - - $131 Agou Hls 91301 409 $378 -2.5% 201 $156 3.7% $186 Alhambra 91801 237 $227 10.9% 207 $171 14.0% $167 Alhambra 91803 220 $210 10.5% 36 $158 8.6% $162 Altadena 91001 537 $245 13.7% 2 $114 -9.0% $189 Arcadia 91006 449 $369 8.4% 67 $248 13.0% $199 Arcadia 91007 281 $445 15.4% 191 $208 12.2% $220 Artesia 90701 154 $179 3.2% 15 $145 -15.7% $151 Avalon 90704 31 $185 -35.1% 23 $250 2.0% $237 Azusa 91702 384 $152 9.4% 232 $111 20.7% $131 Bald Pk 91706 604 $147 9.3% 158 $99 8.8% $128 Bel-Air 90077 136 $715 -14.6% 10 $325 -46.7% $321 Bell 90201 187 $149 2.8% 18 $95 -4.0% $142 Bellfl 90706 479 $185 9.5% 103 $140 9.8% $149 Bev Hls 90210 296 $1236 14.3% 48 $405 6.9% $414 Bev Hls 90211 70 $684 5.3% 44 $400 18.5% $353 Bev Hls 90212 36 $818 -11.1% 47 $400 3.9% $393 Boyle Hts 90033 78 $123 2.5% 1 $179 - $114 Brentwood 90049 245 $851 4.7% 239 $328 13.9% $397 Burbank 91501 121 $349 4.2% 91 $174 15.9% $213 Burbank 91502 10 $210 29.5% 15 $124 -0.2% $207 Burbank 91504 188 $325 10.9% 124 $189 13.2% $217 Burbank 91505 363 $245 11.9% 32 $211 31.4% $209 Burbank 91506 224 $263 11.0% 12 $234 53.2% $211 Calabasas 91302 370 $655 19.1% 119 $208 -40.5% $226 Canoga Pk 91303 136 $180 16.7% 94 $110 22.5% $154 Canoga Pk 91304 422 $242 7.3% 133 $103 37.3% $150 Canoga Pk 91306 499 $205 13.3% 137 $140 13.7% $135 Can Cntry 91351 560 $215 9.5% 482 $128 6.5% $144 Carson 90745 342 $188 10.6% 183 $129 61.3% $143 Carson 90746 213 $205 9.9% 9 $130 14.0% $129 Castaic 91384 263 $207 12.8% 14 $13 -29.8% $139 Cerritos 90703 631 $287 8.7% 87 $129 -11.9% $174 Chats 91311 414 $280 10.6% 271 $168 8.4% $151 Cty Ter 90063 201 $125 6.0% - - - $123 Claremont 91711 515 $250 3.3% 9 $141 -13.2% $142 Commerce 90040 46 $144 2.5% 3 $112 -6.3% $134 Compton 90220 541 $121 5.2% 17 $90 -3.2% $107 Compton 90221 536 $122 4.5% - - - $108 Compton 90222 386 $110 5.3% - - - $110 Covina 91722 453 $170 8.1% 44 $119 -1.0% $138 Covina 91723 137 $185 5.1% 16 $138 10.6% $140 Covina 91724 282 $225 7.8% 96 $127 6.7% $143 Crenshaw 90008 177 $230 11.9% 25 $159 -0.6% $140 Cul Cty 90230 175 $325 18.4% 366 $158 18.0% $249 Cul Cty 90232 97 $353 9.0% 15 $200 -23.6% $264 Dmd Bar 91765 647 $270 7.6% 409 $132 2.9% $146 Downey 90240 331 $232 11.0% 18 $158 -0.5% $158 Downey 90241 349 $237 8.5% 42 $118 21.4% $159 Downey 90242 380 $190 8.3% 37 $125 10.4% $154 Duarte 91010 298 $169 4.2% 84 $123 -1.0% $151 Eag Rk 90041 242 $219 10.1% 6 $144 12.5% $183 East LA. 90022 207 $150 9.5% 1 $57 -85.0% $136 East LA. 90023 100 $134 10.5% - - - $134 Echo Pk 90026 266 $200 14.3% 27 $139 -13.4% $179 El Monte 91731 127 $156 7.2% 8 $121 8.5% $133 El Monte 91732 390 $156 10.0% 58 $106 -6.2% $118 El Monte 91733 157 $152 4.8% 26 $100 -1.2% $136 El Seg 90245 110 $423 20.4% 55 $237 -8.8% $272 El Ser 90032 312 $141 9.2% 21 $86 17.4% $129 Encino 91316 330 $263 15.4% 325 $138 6.2% $206 Encino 91436 275 $555 7.2% 24 $216 -10.0% $225 Gardena 90247 190 $171 6.9% 104 $138 8.3% $146 Gardena 90248 63 $175 1.7% 9 $120 31.1% $151 Gardena 90249 226 $190 10.8% 43 $110 6.1% $153 Glendale 91201 174 $307 11.5% 26 $177 16.4% $212 Glendale 91202 163 $373 12.0% 102 $197 24.0% $211 Glendale 91203 46 $217 19.0% 123 $163 12.4% $189 Glendale 91204 13 $170 -5.6% 64 $157 19.6% $165 Glendale 91205 95 $228 16.1% 88 $141 8.1% $181 Glendale 91206 180 $385 17.0% 251 $155 15.7% $194 Glendale 91207 133 $478 20.9% 28 $163 4.8% $222 Glendale 91208 256 $399 6.2% 47 $147 8.5% $218 Glendora 91740 306 $197 9.5% 52 $154 13.0% $152 Glendora 91741 322 $275 8.0% 21 $203 13.1% $170 Gra Hill 91344 777 $233 7.0% 82 $132 5.4% $149 Hnck Pk 90004 224 $399 6.4% 44 $202 27.8% $213 Hrbr Cty 90710 144 $250 11.1% 82 $124 7.8% $168 Haw Gdns 90716 79 $130 10.2% 50 $83 8.1% $131 Hawthrn 90250 478 $197 12.9% 49 $144 7.9% $164 Her Bch 90254 210 $515 6.6% 103 $367 10.5% $359 High Pk 90042 436 $150 11.8% 229 $127 14.4% $145 Holwd 90028 24 $245 54.5% 14 $108 25.6% $169 Holwd 90038 41 $229 10.5% 18 $176 22.0% $186 Holwd 90068 389 $513 16.9% 93 $170 7.9% $277 Hunt Pk 90255 303 $155 4.7% 59 $103 14.4% $126 Inglwd 90301 121 $147 5.0% 77 $113 13.7% $140 Inglwd 90302 127 $158 9.7% 121 $97 20.9% $159 Inglwd 90303 126 $150 -4.5% 1 $149 - $131 Inglwd 90304 92 $139 3.4% 6 $125 401.4% $149 Inglwd 90305 124 $190 11.7% 53 $179 11.6% $132 L.A. 90005 64 $417 2.3% 73 $195 5.4% $178 L.A. 90006 83 $175 13.6% 6 $167 31.5% $108 L.A. 90010 1 $155 24.2% 17 $350 18.8% $136 L.A. 90012 6 $125 7.3% 66 $174 13.6% $120 L.A. 90015 10 $125 -3.1% 44 $136 19.1% $107 L.A. 90018 232 $140 3.7% 3 $115 7.0% $111 L.A. 90019 278 $267 7.1% 12 $192 31.5% $158 L.A. 90020 34 $1002 90.8% 179 $135 35.0% $235 L.A. 90029 67 $208 27.3% - - - $150 LCan Fl 91011 377 $588 3.4% 7 $289 13.3% $280 LCres 91214 499 $310 12.7% 61 $175 4.6% $220 LHab Hts 90631 110 $424 7.3% - - - $170 LMirada 90638 572 $222 13.6% 148 $137 -21.3% $156 LPuente 91744 792 $150 8.7% 28 $127 1.4% $126 LPuente 91745 737 $247 9.6% 123 $120 -3.6% $140 LPuente 91746 220 $160 11.5% 18 $96 2.4% $132 LPuente 91748 632 $227 16.6% 58 $77 5.5% $142 LVerne 91750 430 $236 2.4% 30 $81 -40.4% $149 Lad Hts 90056 94 $458 18.2% 23 $178 27.1% $191 Lk Hghs 93532 73 $124 -1.2% - - - $96 Lk Vw Tr 91342 730 $178 11.3% 326 $110 15.5% $133 Lakewood 90712 530 $210 10.5% 6 $78 -33.0% $176 Lakewood 90713 413 $218 10.1% - - - $181 Lakewood 90715 216 $186 10.1% 36 $144 39.5% $149 Lancas 93534 699 $80 14.3% 20 $55 -14.1% $63 Lancas 93535 1298 $85 13.3% 41 $45 22.4% $61 Lancas 93536 911 $129 6.6% 51 $70 12.9% $78 Lwndale 90260 168 $182 9.8% 61 $155 8.0% $168 Lin Hts 90031 142 $130 3.6% 3 $130 - $124 Littlerk 93543 204 $84 6.3% - - - $67 Llano 93544 20 $135 -3.6% - - - $76 Lomita 90717 134 $273 14.2% 64 $196 3.8% $201 L Bch 90802 43 $150 29.4% 377 $104 14.3% $151 L Bch 90803 331 $443 11.5% 238 $175 -7.9% $292 L Bch 90804 177 $175 7.8% 181 $114 17.3% $179 L Bch 90805 858 $145 11.5% 61 $70 8.5% $139 L Bch 90806 284 $172 9.4% 139 $143 14.4% $140 L Bch 90807 384 $239 14.1% 125 $115 4.5% $180 L Bch 90808 664 $239 10.1% 12 $160 11.7% $192 L Bch 90810 257 $150 13.6% 39 $55 8.3% $135 L Bch 90813 129 $125 16.0% 64 $83 27.6% $114 L Bch 90814 133 $290 -3.8% 164 $135 8.4% $232 L Bch 90815 497 $249 9.2% 98 $130 2.4% $188 L Feliz 90027 258 $475 9.4% 36 $164 14.7% $245 Lynwood 90262 471 $138 7.0% 2 $110 - $124 Malibu 90265 276 $920 12.2% 122 $325 3.0% $377 Man Bch 90266 637 $700 11.3% 74 $600 10.8% $386 Mar Vis 90066 428 $350 6.1% 88 $185 6.0% $286 M del Ry 90292 47 $730 1.7% 208 $390 13.0% $316 Maywood 90270 89 $149 9.6% - - - $138 Mir Mil 90036 155 $480 14.4% 49 $230 19.9% $258 Mis Hls 91345 209 $185 12.1% 40 $113 8.7% $131 Monrov 91016 402 $228 2.2% 84 $145 4.3% $183 Mntbel 90640 339 $197 8.2% 84 $100 12.4% $143 Mont Pk 91754 263 $225 9.9% 61 $146 3.9% $160 Mont Pk 91755 146 $227 9.9% 112 $165 11.3% $161 Mntrse 91020 34 $242 10.0% 38 $216 13.4% $210 Mt. Wash 90065 418 $192 9.7% 6 $89 -1.1% $162 Newhall 91321 215 $244 8.2% 355 $123 1.7% $148 N Hls 91343 466 $221 12.5% 238 $106 16.5% $138 N Hwd 91601 189 232 16.0% 50 $139 4.9% $187 N Hwd 91602 158 $412 20.5% 122 $174 11.0% $247 N Hwd 91605 396 $179 12.6% 42 $120 3.9% $136 N Hwd 91606 318 $179 14.0% 82 $128 19.7% $154 N Hwd 91607 228 $324 13.8% 94 $160 18.5% $198 Nrthrdge 91324 243 $242 8.8% 81 $153 -2.9% $143 Nrthrdge 91325 302 $290 11.5% 100 $165 21.8% $156 Nrthrdge 91326 406 $345 5.3% 58 $189 -19.6% $156 Norwalk 90650 1142 $163 8.7% 137 $127 7.4% $147 Pac Pal 90272 323 $885 10.8% 90 $417 5.6% $438 Pacoima 91331 691 $155 14.8% 198 $95 25.0% $126 Palmdale 93550 1374 $93 21.6% 72 $54 -2.7% $68 Palmdale 93551 704 $157 10.6% 21 $123 23.0% $84 Palmdale 93552 640 $107 23.8% 6 $75 24.6% $69 Palmdale 93591 193 $68 29.5% - - - $53 Paramnt 90723 246 $141 4.6% 227 $90 1.7% $138 Pas 91101 17 $245 10.9% 175 $163 5.0% $152 Pas 91103 256 $185 6.9% 55 $226 8.7% $155 Pas 91104 448 $265 10.9% 29 $167 0.9% $202 Pas 91105 181 $515 6.4% 45 $390 11.7% $272 Pas 91106 165 $420 16.7% 231 $175 6.1% $241 Pas 91107 427 $316 6.8% 84 $164 20.3% $211 Pearblos 93553 23 $115 13.6% - - - $76 Pico Riv 90660 449 $162 6.6% 40 $116 0.0% $144 PdelRey 90293 70 $605 4.1% 279 $205 12.6% $257 Pomona 91766 659 $133 6.8% 157 $113 13.0% $111 Pomona 91767 625 $133 9.0% 62 $75 3.8% $102 Pomona 91768 437 $124 12.2% 13 $98 8.3% $99 RPVerdes 90275 626 $585 4.5% 117 $258 -6.3% $260 Red Bch 90277 269 $510 7.4% 356 $320 3.4% $330 Red Bch 90278 347 $340 7.9% 373 $319 13.8% $239 Reseda 91335 751 $183 11.1% 268 $130 23.8% $143 R Hls PV 90274 473 $800 8.8% 62 $235 -15.5% $323 Rosemead 91770 398 $177 9.0% 40 $135 -6.9% $146 S Dimas 91773 479 $224 -3.4% 43 $129 -14.0% $146 S Frndo 91340 245 $150 13.6% 26 $102 24.1% $131 S Frndo 91344 777 $233 7.0% 82 $132 5.4% $149 S Gab 91775 371 $285 5.8% 28 $156 3.7% $184 S Gab 91776 218 $210 10.8% 56 $167 19.3% $175 S Mar 91108 261 $670 3.9% - - - $290 S Pedro 90731 295 $235 1.7% 90 $190 15.2% $199 S Pedro 90732 202 $307 -2.6% 214 $167 1.1% $194 SFe Spgs 90670 99 $170 4.0% 2 $146 1.2% $139 S Monica 90401 2 $848 -14.2% 16 $282 -0.2% $404 S Monica 90402 136 $1,260 15.9% 49 $520 26.2% $502 S Monica 90403 43 $754 2.9% 235 $396 20.4% $480 S Monica 90404 26 $366 16.4% 153 $270 15.8% $324 S Monica 90405 158 $512 6.8% 194 $305 6.6% $400 Saugus 91350 623 $237 6.3% 165 $145 -1.4% $148 Sh Oaks 91403 337 $453 17.5% 173 $188 16.1% $241 Sh Oaks 91423 336 $394 6.5% 179 $190 8.6% $237 S Madre 91024 132 $368 0.5% 21 $245 6.5% $246 Sig Hill 90806 284 $172 9.4% 139 $143 14.4% $140 Slvrlk 90039 282 $250 13.4% 34 $192 14.5% $222 S Gate 90280 693 $151 4.7% 8 $134 -1.8% $138 S Pas 91030 186 $407 9.9% 61 $225 25.7% $224 S Cen LA 90001 261 $118 7.3% - - - $117 S Cen LA 90002 511 $112 12.0% - - - $108 S Cen LA 90003 483 $111 4.2% - - - $110 S Cen LA 90007 53 $150 7.1% 8 $123 23.9% $102 S Cen LA 90011 413 $117 6.4% - - - $105 S Cen LA 90037 264 $133 10.4% - - - $101 S Cen LA 90044 644 $120 3.9% - - - $112 S Cen LA 90047 506 $141 7.3% 2 $172 - $116 S Cen LA 90061 252 $113 4.1% - - - $116 S Cen LA 90062 240 $135 5.5% - - - $103 Stev Rch 91381 156 $304 -0.7% 95 $162 -7.4% $147 Stud Cty 91604 387 $450 8.8% 180 $212 11.3% $255 Sun Val 91352 390 $170 14.5% 62 $110 29.6% $144 Sunland 91040 339 $200 8.1% 29 $133 8.1% $166 Sylmar 91342 730 $178 11.3% 326 $110 15.5% $133 Tarzana 91356 353 $458 11.0% 257 $127 4.1% $207 Temp Cty 91780 381 $240 9.3% 52 $176 -2.8% $178 Topanga 90290 112 $503 5.8% - - - $322 Torrance 90501 257 $269 17.0% 58 $194 3.1% $201 Torrance 90502 128 $202 12.1% 169 $132 18.4% $156 Torrance 90503 288 $350 7.0% 191 $279 11.5% $237 Torrance 90504 292 $257 9.8% 40 $184 6.1% $188 Torrance 90505 357 $395 9.7% 73 $190 -2.6% $246 Tujunga 91042 378 $194 14.7% 57 $118 -5.1% $163 Valencia 91354 355 $270 16.9% 49 $185 -25.6% $158 Valencia 91355 477 $245 1.7% 288 $138 -17.6% $166 Van Nuys 91401 339 $260 11.6% 108 $163 27.5% $170 Van Nuys 91402 357 $165 13.8% 291 $97 19.8% $138 Van Nuys 91405 261 $193 13.5% 123 $102 27.5% $133 Van Nuys 91406 544 $190 11.8% 90 $132 14.6% $146 Van Nuys 91411 169 $238 13.1% 47 $103 32.5% $173 Venice 90291 227 $395 17.7% 29 $374 11.6% $363 Walnut 91789 623 $285 6.5% 63 $129 -12.4% $153 W Adams 90016 231 $149 7.0% 78 $99 7.1% $128 W Covina 91790 450 $190 11.6% 22 $120 -4.4% $139 W Covina 91791 361 $225 7.7% 100 $136 6.3% $139 W Covina 91792 264 $189 7.9% 127 $123 11.4% $129 W Hills 91307 435 $255 11.1% 48 $192 20.0% $163 W Hwd 90046 362 $525 10.5% 229 $179 11.7% $311 W Hwd 90048 167 $500 9.9% 73 $251 14.2% $310 W Hwd/LA 90069 172 $710 2.2% 469 $226 22.2% $385 W L.A. 90025 95 $520 10.6% 340 $285 6.7% $340 W L.A. 90034 247 $346 12.0% 93 $185 10.1% $254 W L.A. 90035 180 $408 4.5% 87 $250 20.2% $265 W L.A. 90064 291 $475 14.5% 64 $275 14.7% $321 W L.A. 90067 - - - 130 $400 -3.7% - Wstchstr 90045 488 $369 10.1% 22 $130 7.5% $267 Westlake 90057 19 $150 7.1% 52 $83 16.2% $95 Wlk Vil 91361 134 $613 -5.0% 79 $227 -33.5% $205 Wlk Vil 91362 16 $350 4.5% 23 $314 -3.4% $192 Westwood 90024 84 $805 3.8% 391 $310 17.0% $370 Whittier 90601 306 $220 7.6% 79 $129 9.3% $149 Whittier 90602 167 $197 12.6% 12 $150 0.2% $155 Whittier 90603 263 $226 13.9% 1 $175 -19.9% $157 Whittier 90604 415 $190 8.6% 55 $135 17.4% $146 Whittier 90605 408 $175 6.1% 14 $118 7.6% $151 Whittier 90606 285 $166 6.8% 2 $164 -8.6% $146 Wilowbrk 90059 512 $115 16.2% 2 $148 136.0% $104 Wlmingtn 90744 211 $154 11.6% 27 $107 9.2% $136 WHlsLA 90043 515 $160 7.4% 9 $40 -27.3% $133 Wood Hls 91364 561 $345 7.8% 6 $142 3.6% $185 Wood Hls 91367 478 $329 9.7% 201 $196 6.8% $172

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ORANGE COUNTY

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Community Zip # Med. Price # Med. Price Home Homes Home Chg. Condos Condo Chng Price Sold Price From Sold Price From Per ($1000) 1999 ($1000) 1999 SqFt. Orange County 30,119 $289 12.0% 13,778 $175 9.4% $174 Al Viejo 92656 492 $328 15.5% 1,109 $215 16.2% $162 Anaheim 92801 323 $195 11.4% 85 $148 12.2% $149 Anaheim 92802 236 $220 18.9% 103 $172 15.8% $147 Anaheim 92804 598 $210 13.5% 190 $128 30.7% $153 Anaheim 92805 413 $199 13.7% 86 $124 14.4% $157 Anaheim 92806 244 $240 9.1% 45 $142 14.5% $140 Ana Hls 92807 599 $286 12.6% 115 $141 6.2% $156 Ana Hls 92808 329 $346 9.0% 285 $188 11.2% $174 Balboa I 92662 19 $969 10.7% 1 $315 - $749 Brea 92821 423 $269 11.2% 34 $156 15.6% $155 Brea 92823 18 $328 4.3% - - - $163 Buena Pk 90620 516 $214 12.6% 20 $154 14.6% $166 Buena Pk 90621 294 $180 5.7% 12 $151 14.0% $138 Cap Bch 92624 107 $359 15.6% 25 $270 1.1% $260 C.del Mar 92625 237 $855 9.9% 58 $499 18.8% $472 C.Mesa 92626 490 $289 11.2% 87 $182 10.0% $177 C.Mesa 92627 424 $290 8.8% 147 $220 8.9% $228 Cypress 90630 576 $255 11.4% 78 $165 10.0% $163 Dana Pt 92629 403 $446 15.3% 290 $240 4.3% $244 Foot Rch 92610 228 $335 11.9% 99 $197 13.7% $171 Ft Val. 92708 701 $300 10.7% 62 $145 15.6% $171 Fullrton 92831 299 $260 16.1% 120 $130 -0.2% $167 Fullrton 92832 171 $210 16.0% 35 $55 -5.2% $171 Fullrton 92833 441 $227 14.2% 171 $167 9.7% $166 Fullrton 92835 287 $320 11.1% 92 $126 16.4% $169 Gar Grv 92840 480 $215 16.2% 118 $128 14.0% $161 Gar Grv 92841 303 $220 15.2% 47 $144 12.1% $165 Gar Grv 92843 325 $208 16.5% 121 $128 21.4% $162 Gar Grv 92844 222 $200 15.1% 111 $152 17.8% $154 Gar Grv 92845 228 $254 8.3% 28 $153 13.4% $182 Hunt Bch 92646 791 $300 12.4% 197 $218 16.8% $196 Hunt Bch 92647 503 $294 13.0% 134 $145 14.2% $201 Hunt Bch 92648 546 $451 18.6% 214 $235 14.9% $212 Hunt Bch 92649 400 $420 13.8% 249 $198 16.7% $230 Irvine 92604 264 $310 14.8% 236 $231 7.9% $193 Irvine 92606 178 $349 14.2% 133 $225 7.1% $175 Irvine 92612 305 $379 13.9% 279 $273 8.3% $211 Irvine 92614 210 $366 2.8% 372 $220 12.0% $205 Irvine 92620 439 $360 14.3% 244 $159 6.7% $173 La Habra 90631 589 $203 7.7% 188 $115 9.5% $151 La Palma 90623 179 $305 10.1% 9 $182 25.5% $153 Lag Bch 92651 526 $675 17.4% 48 $259 18.3% $515 L Hills 92653 387 $377 14.1% 811 $161 11.0% $186 L Niguel 92677 1,068 $405 7.5% 771 $200 17.0% $199 Lk. Frst 92630 795 $299 10.7% 594 $148 13.5% $164 Los Alam 90720 220 $392 8.4% 18 $207 21.5% $231 Mid City 92655 49 $200 12.7% 12 $129 12.0% $193 Mis Vjo 92691 708 $300 14.1% 339 $156 11.6% $177 Mis Vjo 92692 833 $340 9.0% 322 $219 16.8% $171 Nwpt Bch 92660 465 $649 13.9% 185 $380 18.4% $297 Nwpt Bch 92661 47 $750 2.7% 8 $345 -25.8% $599 Nwpt Bch 92663 220 $620 8.8% 219 $260 9.4% $478 Nwpt Cst 92657 78 $865 25.6% 118 $468 17.0% $344 Orange 92865 188 $251 7.3% 52 $132 9.5% $159 Orange 92866 100 $264 6.5% 52 $140 8.1% $207 Orange 92867 473 $275 10.0% 22 $188 13.8% $170 Orange 92868 158 $203 20.8% 49 $114 16.4% $157 Orange 92869 442 $330 9.9% 303 $179 12.6% $160 Placen 92870 533 $275 10.2% 159 $162 17.4% $148 R.S.Marg 92688 677 $297 11.5% 886 $172 11.0% $174 S Clem 92672 537 $395 19.2% 197 $217 3.3% $239 S Clem 92673 211 $420 12.8% 86 $283 10.2% $210 S J Cap 92675 486 $299 6.7% 206 $130 -17.2% $173 S. Ana 92701 211 $188 17.5% 215 $83 10.7% $155 S. Ana 92703 328 $177 10.6% 122 $113 9.7% $161 S. Ana 92704 462 $205 15.2% 301 $111 13.9% $159 S. Ana 92705 442 $405 9.6% 50 $128 12.8% $181 S. Ana 92706 273 $235 17.3% 56 $104 26.8% $166 S. Ana 92707 409 $189 12.5% 207 $120 11.6% $166 Seal Bch 90740 158 $400 5.3% 56 $163 14.6% $242 Silverado 92676 35 $240 20.0% - - - $239 Stanton 90680 223 $163 8.7% 149 $139 16.3% $139 Surfside 90743 15 $499 -22.9% - - - $611 Trab Cyn 92679 736 $441 10.3% 219 $180 16.1% $175 Tustin 92780 487 $249 8.3% 187 $130 18.5% $150 Tustin 92782 236 $409 16.1% 378 $225 17.2% $175 Villa Pk 92861 75 $609 7.9% - - - $205 Wstmnstr 92683 963 $235 13.5% 39 $188 14.9% $164 Yor Lin. 92886 604 $327 6.9% 129 $145 8.2% $174 Yor Lin. 92887 308 $415 9.2% 71 $179 13.0% $172

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Source: Dataquick Information Systems

(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

Biggest Home Price Gains in 2000

1. Palmdale: 22.1%

2. El Segundo: 20.4%

3. Calabasas: 19.1%

4. Lancaster: 18.1%

5. Culver City: 17.8%

6. Venice: 17.7%

7. Encino: 17.2%

8. Valencia: 16.9%