Prices Surging for Philly Home Sales

Philadelphia Real Estate

Home values in a highly competitive Philadelphia Real Estate market – newly reclassified by the real estate search engine Zillow as “very hot” – finished the first quarter of 2016 higher than the peak the Philadelphia Real Estate market reached just before the housing bubble burst in 2007.

“[This] implies that all of the losses in house values due to the bubble’s deflation and subsequent recession have now been recovered. The average Philadelphia home has achieved a new all-time high in value,” said Kevin Gillen, chief economist for Meyers Research and senior research fellow at Drexel University’s Lindy Institute for Urban Innovation.

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Authored By Alan J. Heavens
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