PA: Pittsburgh Real Estate Prices Showed Improvement in First Quarter of 2011

Housing prices in the Pittsburgh region continues to buck the national trend as the average price increased 3.8 percent during the first quarter while the Case-Shiller home price index for the nation said prices declined 4.2 percent during that period.

Both the average and median home prices were up in the combined total from the five counties of Allegheny, Beaver, Butler, Washington and Westmoreland, according to RealStats, a South side-based real estate information company.

Case-Shiller, which looks at 20 metropolitan areas in the nation — Pittsburgh is not included — found not only that 19 of the 20 communities sustained price drops in March compared to the same month last year but the first quarter decline followed a 5.1 percent drop last year, pushing home prices back to their mid-2002 levels.

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