Home | Newsletter | Advertise
loading...

WSJ: Home Prices Affordable for Most in the US

  • April 22nd 2009

by Mark Wellborn

✉️ Want to forward this article? Click here.

WSJ: Home Prices Affordable for Most in the US: Figure 1

A quarterly report from research firm IHS Global Insight is showing that home prices in most states are falling back to what a typical household can afford to pay, The Wall Street Journal is reporting.

From The WSJ:

“For the fourth quarter of 2008, covered by the new report, home prices are dubbed ‘fairly’ valued in 202 of the 330 markets studied. That means the average price level is within a band 14% above or below the historical norm. Twenty-one markets are ranked as ‘overvalued,’ or between 14% and 34% above the norm. And 106 markets are considered “undervalued,” or more than 14% below the norm.”

The DC area falls into the fairly valued category as the average price level is currently 2.2 percent below the historic norm.

Jeannine Cataldi, a senior economist at IHS Global Insight, told The Journal that the report “shouldn’t be read as signaling that the housing slump is over.” She notes that home prices will likely reach bottom at the end of this year or in early 2010, and then the market will probably be stagnant for awhile.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/wsj_home_prices_affordable_for_most_in_the_us/828.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse