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Article: California Luxury Home Values Rise in First Quarter of 2003; Los Angeles Posts 11 Percent Gain; San Francisco, San Diego Stable.
- Article from:
- PR Newswire
- Article date:
- May 28, 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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Luxury home values rose in California's major metropolitan markets in the first quarter versus a year ago, with Los Angeles values gaining more than 11 percent, 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 homes valued at more than $1 million since 1985, found:
-- Los Angeles area values rose 11.3 percent from the first quarter of
2002 to the first quarter of 2003 and were up 4.5 percent from the
fourth quarter of 2002. Los Angeles values soared to $1.4 million, a
level not reached ...