|House Prices in Philadelphia Area year 2000 to date...|
Friday, June 3, 2011
House Prices in Our Area
The press has done it again — with the release of the latest Case Shiller Home Price Index they used data from the worst parts of the country to make a point that housing prices are back to 2000 levels. Have you seen the Wall Street Journal article? If not, here is a link: http://online.wsj.com/article/SB10001424052702303657404576357170425058088.html?mod=ITP_pageone_0
Remember that Philadelphia is NOT included in the Case Shiller composite index that is released to the press. In our area, prices are NOT at the 2000 level!
I’ve completed charts with the same data as those you’ve seen in the news, but these are for OUR market areas – please note the counties listed in each metro area. Yes, prices have come down since their peak in 2007 but you can clearly see that our area’s housing has remained an incredibly sound investment.