Is this a good time to buy a home in Michigan City?
City stats†
Population: (2006)
110,479
Median family income: (2008)
$58,100
Home price data
Median home price: (2009)
N/A
Affordability index: (Median home price/family income 2009)
N/A
Prices peaked in:
2008:Q1
Total climb during the boom: (2000 to peak)
39.4%
Total decline so far: (Peak through 2009)
-3.1%
One-year change: (Q4 2008 to Q4 2009)
-0.4%
Forecast
Additional price change to bottom:
-3.2%
When they'll hit bottom:
2011:Q3
*(Q1 2010 - Q1 2011)
† Data is for Michigan City-La Porte, IN Metropolitan Statistical Area Notes:
Median home prices are for single-family homes through the third quarter of 2009, the most recent data available, and include sales of bank-owned properties. Sources: Fiserv and Moody's Economy.com
