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Article: Luxury Home Values in California Rise 3 Percent in 2002; San Diego Values Highest In Survey's History; Los Angeles Values Rise To 10-Year High.
- Article from:
- PR Newswire
- Article date:
- February 26, 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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Despite economic uncertainty, luxury home values in California rose 3 percent in 2002, with Southern California values rising to some of their highest levels ever, 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 values rose 3.6 percent in 2002 compared to 2001 and were
up 3 percent in the fourth quarter, compared to the third quarter of
2002. The fourth quarter increase drove Los Angeles values to
$1.34 million, ...