The Wall Street Journal's RealEstateJournal.com has an analysis of the "Low End Luxury Home" sector for the US housing market. This sector is defined as new and existing single-family homes costing between $750,000 and $1.25 million. These are median price comparisons for those MSAs that are captured in housing derivatives listings:
| METRO AREA* | 4Q 2006 | 4Q 2005 | PERCENT CHANGE |
Edison, N.J. |
$875,000 | $937,500 | -6.70% |
| Miami-Miami Beach-Kendall, Fla. | $876,250 | $915,000 | -4.20% |
Chicago-Napierville-Joliet, Ill. |
$870,000 | $900,000 | -3.30% |
| San Francisco-San Mateo-Redwood City, Calif. | $870,000 | $888,000 | -2.00% |
| Santa Barbara-Santa Maria, Calif. | $910,000 | $925,000 | -1.60% |
| San Jose-Sunnyvale-Santa Clara, Calif. | $849,500 | $860,000 | -1.20% |
| Riverside-San Bernardino-Ontario, Calif. | $850,000 | $858,000 | -0.90% |
Nassau-Suffolk, N.Y. |
$885,000 | $886,000 | -0.10% |
Oakland-Fremont-Hayward, Calif. |
$870,000 | $870,000 | 0.00% |
| Washington-Arlington-Alexandria, D.C.-Va. | $861,000 | $860,000 | 0.10% |
| Los Angeles-Long Beach-Glendale, Calif. | $877,000 | $875,500 | 0.20% |
| Newark-Union, N.J.-Pa. | $885,000 | $875,000 | 1.10% |
Baltimore-Towson, Md. |
$889,330 | $877,000 | 1.40% |
Bridgeport-Stamford-Norwalk, Conn. |
$930,000 | $907,500 | 2.50% |
Bethesda-Gaithersburg-Frederick, Md. |
$895,970 | $869,000 | 3.10% |
| San Diego-Carlsbad-San Marcos, Calif. | $900,000 | $870,000 | 3.40% |
| Oxnard-Thousand Oaks-Ventura, Calif. | $900,250 | $865,250 | 4.00% |
| New York-White Plains-Wayne, N.Y.-N.J. | $906,750 | $870,000 | 4.20% |
Santa Ana-Anaheim-Irvine, Calif. |
$917,750 | $880,000 | 4.30% |
SOURCE: National Association of Home Builders
All opinions expressed herein are those of the author, and no statement should be as an offer to buy or sell any futures contract, or security or option or other derivative instrument. Trading of all such futures, securities, options and other derivative instruments entails significant risk which can result in substantial financial loss. Such risks should be fully understood prior to trading.
housing derivatives case-shiller index
