Prudential Fox & Roach, Realtors
Prudential Fox & Roach HomExpert Market Report confirms residential housing market continues to recover in second half of 2011.
Home sales in the Greater Philadelphia region showed positive gains in the fourth quarter of 2011, with the number of home sales increasing 8.3 percent from the same time last year, according to Prudential Fox & Roach, REALTORS’® HomExpert Market Report©. Overall, year-end median home sale prices in the region decreased 5.7 percent from 2010 to $200,000 in 2011, while homes sales decreased 6.1 percent compared to last year.
“The home sales data from the last six months of 2011 shows consistent gains, which is a good sign during a year when there was no tax credit to buoy sales,” said Steve Storti, Senior VP of Marketing, Prudential Fox & Roach, Realtors. “While continued job growth and increased consumer confidence will be key, the housing market looks to be steadily improving as the economy continues to grow. With mortgage rates at historic lows, now is actually a great time to buy.”
To read more of the release, please select the PDF or click here.
The report garnered coverage from various local news outlets, including the Philadelphia Inquirer, the Daily Local and Radnor.Patch.com.
