Housing Market Data

Discover the most relevant real estate data on the local and national market. We spend our lives immersed in the nitty gritty details of home selling and buying, so we have our fingers on the pulse of what is most important for sellers and buyers to know about the local and national housing markets.

We hope you enjoy the information we offer here! For an analysis of your home’s value, speak with one of our talented real estate agents or directly contact the CenterCityTeam office: 215.440.2093

September 19, 2011

Philadelphia Real Estate Market Data August 2011

Philadelphia Real Estate Market Data August 2011 Here’s the most recent sales data compliments of TREND MLS: Philadelphia County Real Estate Market History In Philadelphia County, Settled units increased 11% in August 2011 compared to August 2010, to 807. In that same time period, Average Settled Price increased 12%, to $168,000. Single-Family Aug. 2010 Aug. 2011 Inventory 9,002 8,620 Settled […]
September 9, 2011

FHA Loan Limits Reduced Effective September 30th

FHA Loan Limits Reduced Effective September 30th Jason Griesser, mortgage broker extraordinaire, recently put a very important post up on his blog. Borrowers seeking to take advantage of historically low mortgage rates AND the FHA minimum down payment of 3.5%  will soon see the maximum loan amount then can get lowered.  The bottom line is that buyers currently looking will […]
September 3, 2011

Philadelphia City OPA Officials ReAssessing Home Values

Philadelphia City OPA Officials ReAssessing Home Values According to Philly.com, Officials from the Philadelphia Office of Property Assessment (OPA) are finally hitting the streets to determine the market values of Philadelphia houses.  Inevitably this will mean higher property taxes for owners of Philadelphia real estate. “Chief Assessment Officer Richie McKeithen said that after a year of reviewing data and training […]
September 3, 2011

Philadelphia Real Estate And Beyond September 2, 2011

Philadelphia Real Estate And Beyond September 2, 2011 White House Housing Refinance Plan Supported – A possible White House effort to kick-start the moribund housing market by allowing homeowners to refinance won wide support from leading economists attending the Federal Reserve’s summer policy retreat. Support for the plan in Jackson Hole, Wyoming may reflect a bit of resignation from the […]
August 31, 2011

Philadelphia Real Estate Prices Rebound

Philadelphia Real Estate Prices Rebound Center City – Alan J. Heavens of the Philadelphia Inquirer wrote a piece describing how Philadelphia real estate home prices have rebounded in the 2nd quarter of 2011. Home prices in the second quarter of 2011 rose 3.6 percent nationally after falling 4.1 percent in the first three months of 2011, according to the Standard […]
August 29, 2011

White House Support For Mortgage Refinance Plan?

White House Support For Mortgage Refinance Plan? According to the New York Times, the Obama administration is considering a number of proposals aimed at strengthening the housing market, helping a large number of homeowners and stimulating the economy for a low cost. One proposal would allow millions of homeowners with government backed mortgages to refinance them at today’s lower interest rates. […]
August 28, 2011

Philadelphia Real Estate And Beyond August 28th, 2011

Philadelphia Real Estate And Beyond August 28th, 2011 Center City – Despite being hit by an earthquake and a hurricane in the same week the Philadelphia real estate community is still hanging in there. Here’s what is going on locally and nationally. Foreclosures And Short Sales Selling At Larger Discount- The percentage REO homes and homes pre-foreclosure dropped 5 percent […]
August 24, 2011

Philadelphia Real Estate And Beyond August 24, 2011

Philadelphia Real Estate And Beyond August 24, 2011 Homeowners Facing Foreclosure Increasing – The number of Americans at risk of foreclosure is rising, likely due to high unemployment. The Mortgage Bankers Association said recently that 8.44 percent of homeowners missed at least one mortgage payment in the April-June quarter. That figure, which is adjusted for seasonal factors, rose 0.12 percentage […]
August 24, 2011

Study Suggests Writing Down Underwater Mortgages Will Fix Housing

Study Suggests Writing Down Underwater Mortgages Will Fix Housing Center City – Read an interesting article on the RisMedia website.  The article summarize a new study called, “The Win/Win Solution: How Fixing the Housing Crisis Will Create One Million Jobs.”  Here’s the reader’s digest version: The study  suggests that writing down all underwater mortgages to market value would allow  1) the […]