Philadelphia Business Journal: “Housing data shows improvement”

Econsult Solutions, Inc. latest Real Estate Value Trends (2013 Q1) cited by Natalie Kostelni from the Philadelphia Business Journal featuring a quote from Dick Voith:

Homes sales ticked up by 2.6 percent in March and the number of properties that traded shot up by 8.1 percent, according to Econsult Solutions Inc.’s Real Estate Values Trend. In another positive trend, the average number of days a house lingered on the market fell to 101, which translated into a 9.8 reduction compared with the same time last year. This is “demonstrating the high demand for area homes,” the Econsult report said.Other indicators showed strength in the housing market. In Philadelphia alone, the price of a single-family house nudged up by 2.3 percent during the first quarter and increased by 5.6 percent compared with a year ago, according to Econsult. However, the number of arm-length sales of single-family houses in Philadelphia dell by 7 percent from the fourth quarter 2012 even though it’s up 11 percent when comparing data from first quarter 2012. The median price per square foot came in at $87 but in the most expensive“There’s always quarter-to-quarter fluctuations,” said Dick Voith of Econsult about the report. “When you look at the overall quality of adjusted prices, there were some increases, which is a good sign year over year.”

via Housing data shows improvement – Philadelphia Business Journal. >LINK

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