Philly Appraisal Blog

Today, two reports were released on the state of the U.S. Real Estate markets.  In the first report Case-Shiller reports that home prices in 20 major cities across the U.S. were either flat or fell in December 2009.  The second report by Bloomberg states "Home prices in 20 U.S. cities rose in December for a seventh consecutive month, indicating the industry at the heart of the worst recession since the 1930s is stabilizing."

The big question is, who are we supposed to believe?  Well, take both reports with a grain of salt.  Look more toward what is happening in your local markets.  Remember, real estate is LOCAL.  What happens in the California does not necessarily reflect what is happening here, in the Philadelphia, PA markets.  Even thought these reports may tell you what is happening in a given region, they may not have much relevance to your specific area.

For information about your local markets, contact your local real estate appraiser.  A well-informed appraiser will be able to provide insights into local real estate trends and happenings.