Philadelphia home sales tumbled 25 percent annually in the spring, according to a new report from Wharton economist Kevin Gillen (hat tip: Matrix).
Meanwhile, the median house price there was roughly $109,000 by the end of June. In Manhattan, it was $1,025,000 (for condos and co-ops), according to Miller Samuel; and, in Brooklyn, $525,00.
No wonder so many New Yorkers are splitting for Philly.
Copyright 2008  The New York Observer
It appears the national housing slump has thoroughly caught up to the city of Rocky and the Word Series Champion Philies. Home sales and prices declined in 2008, according to a comprehensive market report (PDF here) published by Wharton economist Kevin Gillen, and it's not likely either will rebound soon.The report includes data through the second quarter of ...
Philadelphia home sales tumbled 25 percent annually in the spring, according to a new report from Wharton economist Kevin Gillen (hat tip: Matrix).Meanwhile, the median house price there was roughly $109,000 by the end of June. In Manhattan, it was $1,025,000 (for condos and co-ops), according to Miller Samuel; and, in Brooklyn, $525,00.No wonder ...
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