City-by-city price comps
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Prices are expected to dip in this town, though not as low as the temperatures. Like Boise, Idaho, investors and developers seeking less-expensive markets have affected the city. "It had overbuilding because investors were trying to join in on the bubble," says David Stiff, chief economist with Fiserv. It posted one of the strongest metro price increases in the Midwest last year. Local Market Monitor expects a 3-percent decline in home prices this year. | | Median price end of 2008: | $164,300 | | Median price end of 2007: | $155,000 | | Percent change: | 6.0% | | Projected change through Q3 2009: | -2.1% | | Affordability rating: | 0.0 | Foreclosures in 2008:
(1 for every 39 households) | 1,125 | Foreclosures in 2007:
(1 for every 20 households) | 2,162 | | Change in foreclosures: | -48% | | Expected to hit bottom: | Q1 2010 | | Percent drop needed to reach bottom: | -4.8% |
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