Tuesday, May 27, 2014

Philadelphia Blues: Home values in region tumble, analysis shows

The Philadelphia Inquirer reports:
Full recovery continued to elude the Philadelphia region's residential real estate market in the first quarter of this year, as the value of a typical home fell 4.9 percent from the last three months of 2013.

University of Pennsylvania economist Kevin Gillen, who analyzed data from 11 area counties for Berkshire Hathaway Home Services Fox & Roach, said Tuesday that with the latest decline, average house prices in the region were "barely above the post-bubble bottom they hit two years ago."

The struggles of Blue America.