Philadelphia Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The past five years have seen good nominal and real price growth. However, despite good job gains and historically low mortgage rates, price growth began generating concern in the middle of 2006. This is due to local price affordability levels rapidly increasing as during the prior Northeast market bubble. Consequently, nominal and real prices should be expected to stagnate or even decline until they fall back towards the historic level of mortgage debt servicing cost.

SEE PRIOR PHILADELPHIA PEAKS & TROUGHS Next >

Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Philadelphia Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2001	$129,100	8.6%	$146,300	5.8%	12.8%	17.8%
2002	$142,800	10.6%	$157,700	7.8%	13.0%	17.5%
2003	$158,500	11.0%	$171,900	9.0%	14.0%	18.3%
2004	$182,000	14.9%	$192,700	12.1%	15.4%	19.6%
2005	$208,300	14.4%	$214,400	11.3%	17.9%	22.6%
2006	$222,300	6.7%	$222,300	3.7%	18.2%	21.7%

PHILADELPHIA, PENNSYLVANIA - Q4:2006