Just Like the Weather, Real Estate is Local

Just Like the Weather, Real Estate is Local

By Larry Flick, Prudential Fox & Roach

Case Shiller just released its monthly House Price index so we are sure you will hear or read that home prices continue to decline. What will not be reported is the fact that the Case Shiller House Price Index tracks just 20 metropolitan areas, most of which are in areas where the downturn was the worst and foreclosures continue to be a significant issue. The Philadelphia Real Estate metropolitan area is not included in this national index.

We do obtain local data from Case Shiller and, as of the end of 2010, prices have stabilized, and in some cases increased slightly:

Area                                     Quarterly Change Q4 2010           Yearly Change

Philadelphia MSA                                   1.00%                                        -1.54%

Remember, there is no national real estate data. Just like the weather, real estate is local, and the Philadelphia area continues to remain relatively stable. We truly believe it’s a great time to buy a house.

To search Philadelphia Real Estate listings for condos, homes and apartments click here.

Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog

Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623  Direct
610.636.4364  Cellular
888.308.1148  Fax
[email protected]
www.CenterCityTeam.com