KC Condo Tracker

Business Week Sees Real Estate Recovering

July 15th, 2009 9:42 AM by AJ Gentry


No doubt, real estate has taken a hit with values being down 15% on average across the country. However, starting in 2010 median home prices will start climbing back upwards and continue to climbing to full recovery by 2012, according to Business Week magazine.

While there is still ample real estate inventory to sell off, the pictures isn't nearly as bleak as the media paints it to be if you look at the local picture. Here's a snapshot of seven local markets and how median home values (resales) have been impacted in each:

CITY                2007 Home Price        2008 Home Price

Omaha            138,930                    138,000
Seattle            437,920                    $395,000
Saratoga        208,540                     $206,000
Salt Lake        238,020                     $230,000
Nashville        159,490                     $153,000
Austin            182,898                      $191,000
Merced            230,440                    $144,000
Kansas City     156,634                    $149,535   

Posted in:General
Posted by AJ Gentry on July 15th, 2009 9:42 AM



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