Monday, June 2, 2008

Housing Prices Stable in the Milwaukee Market

In today's edition of the Business Journal of Milwaukee - some positive news about the stability of the housing marketing in Milwaukee.

Milwaukee was the only one of 25 major cities where home prices rose from year-ago levels, according to a monthly report from real estate data firm Radar Logic.

Radar Logic measures housing prices on a per-square foot basis, and says prices in the Milwaukee area rose 2.8 percent in March from a year ago, to $115.24 per square foot.

Radar Logic tracks 25 metropolitan areas. Prices rose only in Milwaukee and were unchanged in Charlotte, N.C.

The report says year-over-year housing prices in New York City declined for the first time since it began tracking the market in 2000, falling 4.7 percent.

The biggest drop was Sacramento, where per-square-foot housing prices are down 30.6 percent from a year ago, the Radar Logic report says.