Affordability index: (Median home price/family income 2009)
1.5
Prices peaked in:
2005:Q2
Total climb during the boom: (2000 to peak)
22.9%
Total decline so far: (Peak through 2009)
-43.2%
One-year change: (Q4 2008 to Q4 2009)
-15.0%
Forecast
Additional price change to bottom:
-1.6%
When they'll hit bottom:
2011:Q1
*(Q1 2010 - Q1 2011)
† Data is for Warren-Troy-Farmington Hills, MI 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
