Home price trends in Omaha, Neb.

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City-by-city price comps
Omaha, Neb.

Home prices in the heartland have seen slight fluctuations. Still, actual prices are lower than equilibrium prices, and it isn’t facing the record number of foreclosures that have plagued other markets. Single-family construction permits dropped by 18 percent from December 2007 to December 2008, though multifamily permits were up 19 percent. It could be one of the first of the 40 markets we’ve spotlighted to hit a price bottom.

Median price end of 2008: $129,700
Median price end of 2007: $135,700
Percent change: -4.4%
Projected change through Q3 2009: -0.5%
Affordability rating: 0.4
Foreclosures in 2008:
(1 for every 132 households)
Foreclosures in 2007:
(1 for every 112 households)
Change in foreclosures: -13.5%
Expected to hit bottom: Q2 2009
Percent drop needed to reach bottom: -2.9%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $132,900
Q2 2008 local median price: $138,000
Q3 2008 local median price: $137,500
Q4 2008 local median price: $129,700

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