City-by-city price comps
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This town has plenty of reason to celebrate as home of the Super Bowl XLIII champions and no huge price drops expected this year. It's another market where actual prices are below equilibrium, according to Local Market Monitor. "Home prices didn't rise too fast relative to incomes, and construction activity kept up with demand but didn't overshoot demand," says Celia Chen, senior director of housing market research at Moody’s Economy.com. “So there's less of a correction that's required.” | | Median price end of 2008: | $109,100 | | Median price end of 2007: | $116,900 | | Percent change: | -6.7% | | Projected change through Q3 2009: | 0.6% | | Affordability rating: | 0.0 | Foreclosures in 2008:
(1 for every 110 households) | 10,013 | Foreclosures in 2007:
(1 for every 272 households) | 4,040 | | Change in foreclosures: | 147.8% | | Expected to hit bottom: | Q2 2008 | | Percent drop needed to reach bottom: | -0.7% |
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