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07/30/2010

Home Prices

These days it’s all about housing and jobs, as I note constantly in my “Week in Review” column. Following is a look at the price trends, which are critically important when looking at consumer confidence and spending. A stronger consumer would of course lead to an improving jobs market. An improving jobs market would lead to stronger demand for housing, which would lead to higher prices (once we work off our still extensive inventory), etc. You get the picture.

Looking ahead, what will be interesting is to see if the rising home price in April-June 2010 leads to renewed declines, as was the case in 2009. Banks are finally putting their inventory on the market and the first-time home buyer tax credit is a thing of the past. Should prices hold at current levels the second half of 2010, however, that would be a big positive. I’ll save my personal opinion for that other column I do.

National Association of Realtors / Existing Home Sales

Median Home Prices

*Home prices peaked in July 2006…$230,200

2007…$219,000
2008…$198,100
2009…$172,500

1/2009….$164,700
2/2009….$168,200
3/2009….$170,000
4/2009….$166,500
5/2009….$174,800
6/2009….$181,800
7/2009….$181,300
8/2009….$177,200
9/2009….$175,900
10/2009…$172,000
11/2009…$170,000
12/2009…$170,500
1/2010….$164,900
2/2010….$164,600
3/2010….$169,600
4/2010….$172,300
5/2010….$174,600
6/2010….$183,700

Source: realtor.org

Wall Street History will return in two weeks. Atlantic City vs. Pennsylvania.

Brian Trumbore



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Wall Street History

07/30/2010

Home Prices

These days it’s all about housing and jobs, as I note constantly in my “Week in Review” column. Following is a look at the price trends, which are critically important when looking at consumer confidence and spending. A stronger consumer would of course lead to an improving jobs market. An improving jobs market would lead to stronger demand for housing, which would lead to higher prices (once we work off our still extensive inventory), etc. You get the picture.

Looking ahead, what will be interesting is to see if the rising home price in April-June 2010 leads to renewed declines, as was the case in 2009. Banks are finally putting their inventory on the market and the first-time home buyer tax credit is a thing of the past. Should prices hold at current levels the second half of 2010, however, that would be a big positive. I’ll save my personal opinion for that other column I do.

National Association of Realtors / Existing Home Sales

Median Home Prices

*Home prices peaked in July 2006…$230,200

2007…$219,000
2008…$198,100
2009…$172,500

1/2009….$164,700
2/2009….$168,200
3/2009….$170,000
4/2009….$166,500
5/2009….$174,800
6/2009….$181,800
7/2009….$181,300
8/2009….$177,200
9/2009….$175,900
10/2009…$172,000
11/2009…$170,000
12/2009…$170,500
1/2010….$164,900
2/2010….$164,600
3/2010….$169,600
4/2010….$172,300
5/2010….$174,600
6/2010….$183,700

Source: realtor.org

Wall Street History will return in two weeks. Atlantic City vs. Pennsylvania.

Brian Trumbore