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Reports say home price declines are slowing

Philadelphia Inquirer - May 10, 2012

Three measures of housing market health released so far this week indicate that price declines might be slowing in many areas of the country.

The National Association of Realtors on Wednesday said its first-quarter data for the nation’s metropolitan areas showed median existing single-family home prices are “firming” in many, while improving sales and declining inventory are creating “more balanced conditions.”

The group’s data for the Philadelphia metropolitan area, including Wilmington, however, showed median prices for the first quarter at $193,500, down 3.7 percent from $201,000 in the fourth quarter and 2.8 percent from the first three months of 2011.

The latest numbers from Fiserv Case-Shiller, which tracks Philadelphia metro prices quarterly, showed the region’s prices fell 5.79 percent in the 12 months ending Dec. 31, 2011, which is the most recent period it has tracked.

Read Full Article from Philadelphia Inquirer

- Posted: 2012-05-10 10:09:44


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