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Article: Luxury Home Values Rise in Southern California, Northern California Values Decline Slightly; Los Angeles Jumps 12.9 Percent.
- Article from:
- PR Newswire
- Article date:
- September 3, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Led by the Los Angeles region, Southern California luxury home values rose strongly in the second quarter of 2003 compared to a year ago, while values in Northern California declined slightly, according to the Prestige Home Index(TM) by First Republic Bank, one of California's leading providers of full-service banking, investment management, and trust services.
The Index, which has tracked luxury homes since 1985, found:
-- Los Angeles area values climbed 12.9 percent from the second quarter of
2002 to the second quarter of 2003, and were up 4 percent from the
first quarter of 2003. Los Angeles values rose to $1.46 million, up
from $1.40 ...