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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Philadelphia
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The City of Brotherly Love isn't getting any love because of several factors, including low population growth and high numbers of younger workers leaving the area. Home prices were flat for a decade before a recent surge. New home construction is low compared to the existing homes, less than 1 percent annually, Ingo Winzer notes.
4th quarter 2006: $222,300
Median price 4th qtr 2005: $215,100
% change: +3.3%
Projected avg price end of 2007: $277,590
Current avg 30-year fixed rate: 5.82%
Current avg 5/1 ARM rate 5.61%
*Affordability rating: 5.1
Foreclosures in Jan. 2006:
(1 for every 758 households)
2,065
Foreclosures in Jan. 2007:
(1 for every 898 households)
1,744
Change in foreclosures: -15.54%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $215,100
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 3.3% to $222,300
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007




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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.01%
15 yr fixed mtg 3.12%
5/1 ARM 3.11%
Rates may include points
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