City-by-city price comps
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The city, which calls itself 'The Rock,' has met a worthy opponent: the housing market downturn. Sales volume and prices are declining, but experts say prices don’t need to go much lower. Home prices are nearly at equilibrium, according to Local Market Monitor. Little Rock wasn't overinflated during the housing boom, says Celia Chen, senior director of housing market research at Moody’s Economy.com. | | Median price end of 2008: | $125,200 | | Median price end of 2007: | $127,500 | | Percent change: | -1.8% | | Projected change through Q3 2009: | -0.6% | | Affordability rating: | 0.0 | Foreclosures in 2008:
(1 for every 67 households) | 4,336 | Foreclosures in 2007:
(1 for every 105 households) | 2,702 | | Change in foreclosures: | 60.5% | | Expected to hit bottom: | Q1 2008 | | Percent drop needed to reach bottom: | -0.6% |
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