Is this a good time to buy a home in Philadelphia?
City stats†
Population: (2006)
3,885,395
Median family income: (2008)
$72,400
Home price data
Median home price: (2009)
$218,000
Affordability index: (Median home price/family income 2009)
3.0
Prices peaked in:
2007:Q2
Total climb during the boom: (2000 to peak)
92.3%
Total decline so far: (Peak through 2009)
-7.2%
One-year change: (Q4 2008 to Q4 2009)
-2.6%
Forecast
Additional price change to bottom:
-3.1%
When they'll hit bottom:
2010:Q4
*(Q1 2010 - Q1 2011)
† Data is for Philadelphia, PA 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
