Kevin Gillen’s 2008 Q2 report on the Philadelphia housing market indicated that house values exhibited resistance to further price declines this spring, even as the number of home sales continued its downward slide. The typical Philadelphia home increased in value by an average of 1.7% in Q2, with North Philadelphia being the only neighborhood to experience further price declines. Even with this recent increase, home values still remain down by an average of 6.6% from one year ago and home sales volume this quarter fell to its lowest level since 2001. Philadelphia’s housing market continues to perform well relative to most other U.S. cities, where house prices have declined by an average of 18% according to Case-Shiller MacroMarkets.
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 Philadelphia House Price Indices, 2008 Q2
Philadelphia House Price Indices: Technical FAQ and Documentation
In
addition the current report received the following press
coverage:
Philadelphia Inquirer News in Brief
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