[Philly Housing 2Q 2010] Tax Credit Fueled First Half Surge, Slowdown in Second Half
Posted by Jonathan J. Miller -Thursday, August 12, 2010, 11:20 AM
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This quarterly market report is provided by Dr. Kevin Gillen, an economist and Research Fellow at the University of Pennsylvania’s Institute for Urban Research. He analyzes the Philadelphia real estate market using the city’s real estate database through Econsult, an economics consulting firm based in Philadelphia PA that provides statistical & econometric analysis in support of litigation as well as business and public policy decision-makers. His results are published in a research paper called Philadelphia House Price Indices each quarter as a public service to the Philadelphia real estate community. Here’s his methodology.
Kevin does a great job parsing out the market and it is a pleasure to share his results on Matrix …Jonathan Miller
Download the report and Kevin’s commentary.
Observations
“Spurred by Tax Credit’s Expiration, Demand for Philadelphia Homes Surges in Q2 . . . But leading indicators signal a slowdown for the remainder of 2010″
Following a slower-than-usual winter season and motivated by the incipient expiration of the federal homebuyer tax credit in April, Philadelphia homebuyers returned to the market in force this past Spring, with the most recent home sales data indicating that both house prices and sales up-ticked during the most recent quarter. Kevin Gillen, Econsult Vice President, provides a commentary as well as the full report and documentation in the links that follow. (August 10, 2010)
Check this out!
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