__________________________________________
Philadelphia, PA - Home Price Appreciation Rate - 32 Year Graph
Annual appreciation rates for Philadelphia, PA single family home prices are shown in the graph
above. Source: House Price Index (HPI). Updated Tuesday, April 19, 2011. Click the link below for the
Pennsylvania Real Estate Forecast.
Philadelphia Home Prices - Appreciation Rate
1/1980          1/1985           1/1990           1/1995          1/2000           1/2005          1/2010
20%
15%
10%
5%
0%
-5%
-10%
Commentary  7660
1st Quarter, 2011 Data: Philadelphia, Pennsylvania

Due to the time required to gather home sales price and appraisal data from
mortgage transactions for this and hundreds of other cities, Home Price data is
not available for a number of months after the end of each quarter.

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period.

Last Quarter:
During the 1st Quarter of 2011, Philadelphia Home Prices had a rank of 172,
with appreciation of -2.05%. The top performing real estate market during the
1st Quarter was Mansfield, OH, with appreciation of 2.31%. The worst market
during that period was Boise City, ID, with appreciation of -8.86%.
The median appreciation for all cities during the 1st Quarter was -2.24%. The
average appreciation for all markets during the quarter was -2.29%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 188, with
appreciation during the year of -2.05%. The top performing market during the
last year was Midland, TX, with appreciation of 4.5%. The worst real estate
market during that period was Boise City, ID, with appreciation of -15.2%.
The median appreciation for all markets during this period was -2.13%. The
average appreciation was -2.64%.

Last 5 Years:
Over the 5 years ended with the 1st Quarter of 2011, Philadelphia Home Prices
ranked 210, with a total appreciation of -4.3%. The top performing real estate
market during the 5 year period was Midland, TX, with appreciation of 42%. The
worst market during that period was Merced, CA, with appreciation of -62%.
The median appreciation for all cities during this time period was -2%. The
average appreciation over the 5 years was -7%.

Last 10 Years:
During the 10 years ended in the 1st Quarter of 2011, Philadelphia Home
Prices had a rank of 19, with appreciation during the decade of 64%. The top
performing market during the period was Midland, TX, with appreciation of 94%.
The worst real estate market during the 10 year time period was Detroit, MI, with
appreciation of -26%.
The median appreciation for all markets during the last 10 years was 30%. The
average appreciation for the cities over that time frame was 31%.

Last 20 Years:
During the 20 years ended in the 1st Quarter of 2011, Philadelphia Home
Prices had a rank of 129, with total appreciation over the 20 year period of
99%. The top performing real estate market during the period was Casper, WY,
with appreciation of 244%. The worst market during the last 20 years was
Merced, CA, with appreciation of 14%.
The median appreciation for all cities during the last 20 years was 90%. The
average appreciation for the markets over that time frame was 94%.

Historical research data on the Home Price Index for the Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. The chart has been
updated through the 1st Quarter of 2011. All calculations are based on the
quarterly value of the House Price Index for Philadelphia. Real estate
appreciation figures represent total appreciation over each time period. (Unless
specifically stated, the appreciation figures do not represent annual or quarterly
rates of appreciation.)






Commentary  6898
4th Quarter, 2010 Data: Philadelphia, Pennsylvania

Due to the time required to gather home sales price and appraisal data from
mortgage transactions for this and hundreds of other cities, Home Price data is
not available for a number of months after the end of each quarter.

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period.

Last Quarter:
During the 4th Quarter of 2010, Philadelphia Home Prices had a rank of 162,
with appreciation of -0.52%. The top performing real estate market during the
4th Quarter was Cape Coral, FL, with appreciation of 4.62%. The worst market
during that period was Sebastian, FL, with appreciation of -6.82%.
The median appreciation for all cities during the 4th Quarter was -0.68%. The
average appreciation for all markets during the quarter was -0.69%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 142, with
appreciation during the year of -0.47%. The top performing market during the
last year was Bay City, MI, with appreciation of 6.1%. The worst real estate
market during that period was Reno, NV, with appreciation of -10.3%.
The median appreciation for all markets during this period was -1.13%. The
average appreciation was -1.71%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2010, Philadelphia Home Prices
ranked 208, with a total appreciation of -0.6%. The top performing real estate
market during the 5 year period was Midland, TX, with appreciation of 44%. The
worst market during that period was Merced, CA, with appreciation of -60%.
The median appreciation for all cities during this time period was 1%. The
average appreciation over the 5 years was -4%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2010, Philadelphia Home
Prices had a rank of 17, with appreciation during the decade of 72%. The top
performing market during the period was Honolulu, HI, with appreciation of
100%. The worst real estate market during the 10 year time period was Detroit,
MI, with appreciation of -22%.
The median appreciation for all markets during the last 10 years was 37%. The
average appreciation for the cities over that time frame was 38%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2010, Philadelphia Home
Prices had a rank of 135, with total appreciation over the 20 year period of
105%. The top performing real estate market during the period was Casper,
WY, with appreciation of 245%. The worst market during the last 20 years was
Merced, CA, with appreciation of 14%.
The median appreciation for all cities during the last 20 years was 97%. The
average appreciation for the markets over that time frame was 101%.

Historical research data on the Home Price Index for the Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. The chart has been
updated through the 4th Quarter of 2010. All calculations are based on the
quarterly value of the House Price Index for Philadelphia. Real estate
appreciation figures represent total appreciation over each time period. (Unless
specifically stated, the appreciation figures do not represent annual or quarterly
rates of appreciation.)






Commentary  5755
Part 1: MARKET SUMMARY
3rd Quarter, 2010 Data: Philadelphia, Pennsylvania


Historical Home Price Appreciation
Last Quarter                         0.35%
Last Year                              -0.8%
Last 5 Years                         3%
Last 10 Years                       75%
Last 20 Years                       104%
Decline From All Time High   6.48%


Annual Home Price Appreciation Rates
1980      11.22%
1981      1.94%
1982      3.76%
1983      9.50%
1984      7.52%
1985      8.41%
1986      15.46%
1987      19.35%
1988      12.19%
1989      4.90%
1990      -0.90%
1991      2.23%
1992      0.74%
1993      0.53%
1994      -3.52%
1995      2.94%
1996      -0.30%
1997      2.28%
1998      3.19%
1999      3.77%
2000      6.03%
2001      8.57%
2002      10.75%
2003      10.67%
2004      14.70%
2005      13.34%
2006      5.16%
2007      0.98%
2008      -2.53%
2009      -3.27%


Real Estate Appreciation, Rank & Percentile
Last Quarter                              0.35%         Rank: 247 of 381 (35th Percentile)
Last Year  . . . . . . . . . . . . . . . .  -0.8%          Rank: 169 of 381 (55th Percentile)
Last 5 Years                              3%              Rank: 202 of 381 (47th Percentile)
Last 10 Years  . . . . . . . . . . . .   75%            Rank: 19 of 381 (95th Percentile)
Last 20 Years                            104%          Rank: 145 of 344 (58th Percentile)
Decline From All Time High        6.48%

Home Price appreciation rates for Philadelphia, PA are shown above for five
time periods. For example: Philadelphia appreciated 0.35% in the Last Quarter.
At that rate, the Philadelphia Real Estate Market was ranked 247th out of 381
metropolitan areas for Real Estate Appreciation. Philadelphia was in the 35th
percentile. So Philadelphia, PA performed better in the Last Quarter than 35%
of the 381 metropolitan areas covered in ForecastChart.com.

























Part 2: MARKET HIGHLIGHTS
3rd Quarter, 2010 Data: Philadelphia, Pennsylvania

The all time high in the Philadelphia Home Price Index was 221.3 in the 1st
Quarter, of 2008. The 3rd Quarter, 2010 index value was 207.0. That's a
decline of 14.35 points or 6.48% below the Philadelphia Home Price Index all
time high.  The Home Price Index indicates that the Philadelphia Market is up
75% over the last 10 years. Home Prices in the Philadelphia Real Estate Market
have lost 0.84% over the last 12 months. Over the last thirty years, it is up
354%.

The 3rd Quarter index value was 0.73 points higher than the 2nd Quarter, 2010
index value of 206.24, resulting in a 0.35% rise in the 3rd Quarter for the
Philadelphia Market.

The Philadelphia Home Price Index increased in the last quarter after falling in
the previous 5 quarters. The current record holders for consecutive increases
in the Home Price Index are Shreveport, LA; San Jose, CA; Oakland, CA;
Kennewick, WA and Cambridge, MA, with increases in the last 4 consecutive
quarters. The current record holder for consecutive declines in the Home Price
Index is Las Vegas, NV, with declines in the last 15 consecutive quarters.

The highest annual home appreciation rate in the Philadelphia Real Estate
Market was 20% in the twelve months ended with the 3rd Quarter of 1987. The
worst annual home appreciation rate in the Philadelphia Market was -4% in the
twelve months ended with the 1st Quarter of 2010.

The highest home appreciation in the Philadelphia Real Estate Market over a
three year period was 56% in the three years ended with the 3rd Quarter of
1988. The worst home appreciation over a three year period in the Philadelphia
Market was -6% in the three years ended with the 2nd Quarter of 2010.

This page provides a long term graph of the Philadelphia Home Price Index
(above). The chart has been updated through the 3rd Quarter of 2010. For
more information about Philadelphia Home Prices, look at the links under that
chart. One link opens a long term chart of historical appreciation rates for the
Philadelphia Real Estate Market. Another opens a forecast for appreciation
rates in the state of Pennsylvania. Just one glance at ForecastChart.com's long
term charts can provide tremendous insight into the historical trends of
residential property values. Bookmark this page! Then ForecastChart.com's
detailed research and statistics about Philadelphia Home Prices will be at your
fingertips when you need them.

Historical data on the Philadelphia Home Price Index is available back to the 1st
Quarter, of 1976. All calculations are based on the quarterly value of the House
Price Index for the Philadelphia Market. The terms House Price Index and Home
Price Index, as used in this site, refer to the Federal Housing Finance Agency
(FHFA) House Price Index.

Significant is time required to research quarterly sales price and appraisal data
from mortgage transactions in the Philadelphia Real Estate Market and
hundreds of other cities. As a result, Home Price data is not available for a
number of months after the end of each quarter.



Part 3: APPRECIATION RATES & RANKINGS
3rd Quarter, 2010 Data: Philadelphia, Pennsylvania

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period.

Last Quarter:
During the 3rd Quarter of 2010, Philadelphia Home Prices had a rank of 247,
with appreciation of 0.35%. The top performing real estate market during the
3rd Quarter was Laredo, TX, with appreciation of 13.94%. The worst market
during that period was Coeur d'Alene, ID, with appreciation of -4.45%.
The median appreciation for all cities during the 3rd Quarter was 0.66%. The
average appreciation for all markets during the quarter was 0.74%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 169, with
appreciation during the year of -0.84%. The top performing market during the
last year was Laredo, TX, with appreciation of 9.5%. The worst real estate
market during that period was Deltona, FL, with appreciation of -15.7%.
The median appreciation for all markets during this period was -1.17%. The
average appreciation was -1.91%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2010, Philadelphia Home Prices
ranked 202, with a total appreciation of 2.5%. The top performing real estate
market during the 5 year period was Midland, TX, with appreciation of 50%. The
worst market during that period was Merced, CA, with appreciation of -58%.
The median appreciation for all cities during this time period was 4%. The
average appreciation over the 5 years was -1%.

Last 10 Years:
During the 10 years ended in the 3rd Quarter of 2010, Philadelphia Home
Prices had a rank of 19, with appreciation during the decade of 75%. The top
performing market during the period was Honolulu, HI, with appreciation of
103%. The worst real estate market during the 10 year time period was Detroit,
MI, with appreciation of -21%.
The median appreciation for all markets during the last 10 years was 41%. The
average appreciation for the cities over that time frame was 41%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2010, Philadelphia Home
Prices had a rank of 145, with total appreciation over the 20 year period of
104%. The top performing real estate market during the period was Missoula,
MT, with appreciation of 265%. The worst market during the last 20 years was
Merced, CA, with appreciation of 17%.
The median appreciation for all cities during the last 20 years was 97%. The
average appreciation for the markets over that time frame was 103%.

Historical research data on the Home Price Index for the Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. The chart has been
updated through the 3rd Quarter of 2010. All calculations are based on the
quarterly value of the House Price Index for Philadelphia. Real estate
appreciation figures represent total appreciation over each time period. (Unless
specifically stated, the appreciation figures do not represent annual or quarterly
rates of appreciation.)



PART 4: NATIONAL ECONOMIC FORECASTS  
Local economies and home values are influenced in varying degrees by
national economic conditions. Forecasts for some relevant indicators are
included below. The date shown to the right of the forecast represents the
target date of the forecast.   Abbreviations: SSAR (Seasonally Adjusted Annual
Rate),  Q1 (First Quarter),  Q2 (Second Quarter),  etc.  

U. S. Home Values (12 Month Appreciation or Depreciation)  0.3%  (2011-Q4)
30 Year Mortgage Interest Rate:  4.34%  (December, 2011)
15 Year Mortgage Rate:  3.86%  (December, 2011)
Adjustable Rate Mortgage Rate:  3.40%  (December, 2011)
Housing Starts (SSAR in 1000's):  523  (December, 2011)
Prime Interest Rate:  3.25%  (December, 2011)
US unemployment rate (Overall):  9.93%  (December, 2011)
US Inflation or Deflation (-):  1.08%  (December, 2011)
Crude Oil Prices (Dollars per Barrel):  $100.3  (December, 2011)
Natural Gas Prices (Dollars Per Million BTU):  $2.90  (December, 2011)
U.S. Dollar Trade Weighted Currency Exchange Index:   104  (December, 2011)
GDP (Gross Domestic Product) SSAR in Trillions:  $15.4  (2011-Q3)
GNP (Gross National Product) SSAR in Trillions:  $15.3  (2011-Q3)
Federal Surplus or Deficit (-) in Billions:  $-1704  (2011)
National Debt (Trillions):  $15.0  (2011-Q3)
Fed Funds Rate:  0.19%  (December, 2011)
S&P 500 (Standard & Poor's 500 Stock Index):  1191  (December, 2011)
DJIA (Dow Jones Industrial Average):  11102  (December, 2011)
U. S. Exports (SSAR in Billions):  $1975  (2011-Q3)
U. S. Imports (SSAR in Billions):  $2572  (2011-Q3)
U. S. Personal Savings Rate:  5.80%  (December, 2011)
































Commentary  5374
2nd Quarter, 2010 Data: Philadelphia, Pennsylvania

Due to the time required to gather home sales price and appraisal data from
mortgage transactions for this and hundreds of other cities, Home Price data is
not available for a number of months after the end of each quarter.

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period.

Last Quarter:
During the 2nd Quarter of 2010, Philadelphia Home Prices had a rank of 165,
with appreciation of -0.26%. The top performing real estate market during the
2nd Quarter was Cumberland, MD, with appreciation of 8.36%. The worst
market during that period was Ocala, FL, with appreciation of -9.09%.
The median appreciation for all cities during the 2nd Quarter was -0.47%. The
average appreciation for all markets during the quarter was -0.61%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 145, with
appreciation during the year of -3.09%. The top performing market during the
last year was Lawton, OK, with appreciation of 4.9%. The worst real estate
market during that period was Bend, OR, with appreciation of -18.6%.
The median appreciation for all markets during this period was -3.88%. The
average appreciation was -4.53%.

Last 5 Years:
Over the 5 years ended with the 2nd Quarter of 2010, Philadelphia Home
Prices ranked 190, with a total appreciation of 5.6%. The top performing real
estate market during the 5 year period was Midland, TX, with appreciation of
56%. The worst market during that period was Merced, CA, with appreciation of
-57%.
The median appreciation for all cities during this time period was 6%. The
average appreciation over the 5 years was 1%.

Last 10 Years:
During the 10 years ended in the 2nd Quarter of 2010, Philadelphia Home
Prices had a rank of 22, with appreciation during the decade of 77%. The top
performing market during the period was Ocean City, NJ, with appreciation of
108%. The worst real estate market during the 10 year time period was Detroit,
MI, with appreciation of -20%.
The median appreciation for all markets during the last 10 years was 41%. The
average appreciation for the cities over that time frame was 42%.

Last 20 Years:
During the 20 years ended in the 2nd Quarter of 2010, Philadelphia Home
Prices had a rank of 149, with total appreciation over the 20 year period of
103%. The top performing real estate market during the period was Casper,
WY, with appreciation of 256%. The worst market during the last 20 years was
Merced, CA, with appreciation of 18%.
The median appreciation for all cities during the last 20 years was 98%. The
average appreciation for the markets over that time frame was 103%.

Historical research data on the Home Price Index for the Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. The chart has been
updated through the 2nd Quarter of 2010. All calculations are based on the
quarterly value of the House Price Index for Philadelphia. Real estate
appreciation figures represent total appreciation over each time period. (Unless
specifically stated, the appreciation figures do not represent annual or quarterly
rates of appreciation.)






Commentary  4612
1st Quarter, 2010 Data: Philadelphia, Pennsylvania

Due to the time required to gather home sales price and appraisal data from
mortgage transactions for this and hundreds of other cities, Home Price data is
not available for a number of months after the end of each quarter.

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period.

Last Quarter:
During the 1st Quarter of 2010, Philadelphia Home Prices had a rank of 130,
with appreciation of -0.86%. The top performing real estate market during the
1st Quarter was Punta Gorda, FL, with appreciation of 2.90%. The worst market
during that period was Gainesville, GA, with appreciation of -7.15%.
The median appreciation for all cities during the 1st Quarter was -1.32%. The
average appreciation for all markets during the quarter was -1.49%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 170, with
appreciation during the year of -4.70%. The top performing market during the
last year was Pine Bluff, AR, with appreciation of 2.5%. The worst real estate
market during that period was Bend, OR, with appreciation of -23.0%.
The median appreciation for all markets during this period was -5.11%. The
average appreciation was -5.97%.

Last 5 Years:
Over the 5 years ended with the 1st Quarter of 2010, Philadelphia Home Prices
ranked 163, with a total appreciation of 10.3%. The top performing real estate
market during the 5 year period was Midland, TX, with appreciation of 57%. The
worst market during that period was Merced, CA, with appreciation of -49%.
The median appreciation for all cities during this time period was 8%. The
average appreciation over the 5 years was 5%.

Last 10 Years:
During the 10 years ended in the 1st Quarter of 2010, Philadelphia Home
Prices had a rank of 21, with appreciation during the decade of 81%. The top
performing market during the period was Ocean City, NJ, with appreciation of
111%. The worst real estate market during the 10 year time period was Detroit,
MI, with appreciation of -17%.
The median appreciation for all markets during the last 10 years was 44%. The
average appreciation for the cities over that time frame was 45%.

Last 20 Years:
During the 20 years ended in the 1st Quarter of 2010, Philadelphia Home
Prices had a rank of 158, with total appreciation over the 20 year period of
103%. The top performing real estate market during the period was Missoula,
MT, with appreciation of 269%. The worst market during the last 20 years was
Modesto, CA, with appreciation of 28%.
The median appreciation for all cities during the last 20 years was 100%. The
average appreciation for the markets over that time frame was 107%.

Historical research data on the Home Price Index for the Philadelphia Real
Estate Market is available back to the 1st Quarter, of 1976. The chart has been
updated through the 1st Quarter of 2010. All calculations are based on the
quarterly value of the House Price Index for Philadelphia. Real estate
appreciation figures represent total appreciation over each time period. (Unless
specifically stated, the appreciation figures do not represent annual or quarterly
rates of appreciation.)






Commentary  3850
4th Quarter, 2009 Data: Philadelphia, Pennsylvania

Due to the time required to gather home sales price and appraisal data from
mortgage transactions for this and hundreds of other cities, Home Price data is
not available for a number of months after the end of each quarter.

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performing markets as well as the average and median performance for
all cities during each time period.

Last Quarter:
During the 4th Quarter of 2009, Philadelphia Home Prices had a rank of 194,
with appreciation of -0.82%. The top performing real estate market during the
4th Quarter was Laredo, TX, with appreciation of 7.71%. The worst market
during that period was Naples, FL, with appreciation of -8.03%.
The median appreciation for all cities during the 4th Quarter was -0.78%. The
average appreciation for all markets during the quarter was -0.92%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 222, with
appreciation during the year of -3.68%. The top performing market during the
last year was Weirton, OH, with appreciation of 6.8%. The worst real estate
market during that period was Bend, OR, with appreciation of -20.6%.
The median appreciation for all markets during this period was -2.75%. The
average appreciation was -3.89%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2009, Philadelphia Home Prices
ranked 154, with a total appreciation of 14.0%. The top performing real estate
market during the 5 year period was Odessa, TX, with appreciation of 65%. The
worst market during that period was Merced, CA, with appreciation of -46%.
The median appreciation for all cities during this time period was 11%. The
average appreciation over the 5 years was 8%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2009, Philadelphia Home
Prices had a rank of 26, with appreciation during the decade of 84%. The top
performing market during the period was Ocean City, NJ, with appreciation of
123%. The worst real estate market during the 10 year time period was Detroit,
MI, with appreciation of -14%.
The median appreciation for all markets during the last 10 years was 48%. The
average appreciation for the cities over that time frame was 50%.

Last 20 Years:
During the 20 years ended in the 4th Quarter of 2009, Philadelphia Home
Prices had a rank of 167, with total appreciation over the 20 year period of
105%. The top performing real estate market during the period was Casper,
WY, with appreciation of 269%. The worst market during the last 20 years was
Stockton, CA, with appreciation of 35%.
The median appreciation for all cities during the last 20 years was 104%. The
average appreciation for the markets over that time frame was 112%.

Historical data on the Home Price Index for the Philadelphia Real Estate Market
is available back to the 1st Quarter, of 1976. The chart has been updated
through the 4th Quarter of 2009. All calculations are based on the quarterly
value of the House Price Index for Philadelphia. Real estate appreciation figures
represent total appreciation over each time period. (Unless specifically stated,
the appreciation figures do not represent annual or quarterly rates of
appreciation.)








Commentary  3088
3rd Quarter, 2009 Data: Philadelphia, Pennsylvania

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performers as well as the average and median performance for all cities
during each time period.

Last Quarter:
During the 3rd Quarter of 2009, Philadelphia Home Prices had a rank of 191,
with appreciation of -1.60%. The top performer during the 3rd Quarter was
Hinesville, GA, with appreciation of 7.17%. The worst performer during that
period was Las Vegas, NV, with appreciation of -8.45%.
The median appreciation for all cities during the 3rd Quarter was -1.60%. The
average appreciation for all cities during the quarter was -1.74%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 227, with
appreciation during the year of -2.87%. The top performer during the last year
was Wichita Falls, TX, with appreciation of 6.0%. The worst performer during
that period was El Centro, CA, with appreciation of -24.5%.
The median appreciation for all cities during this period was -1.89%. The
average appreciation was -3.28%.

Last 5 Years:
Over the 5 years ended with the 3rd Quarter of 2009, Philadelphia Home Prices
ranked 149, with a total appreciation of 17.6%. The top performer during the 5
year period was Midland, TX, with appreciation of 72%. The worst performer
during that period was Merced, CA, with appreciation of -46%.
The median appreciation for all cities during this time period was 13%. The
average appreciation over the 5 years was 12%.

Last 10 Years:
During the 10 years ended in the 3rd Quarter of 2009, Philadelphia Home
Prices had a rank of 25, with appreciation during the decade of 88%. The top
performer during the period was Ocean City, NJ, with appreciation of 135%. The
worst performer during the 10 year time period was Detroit, MI, with
appreciation of -10%.
The median appreciation for all cities during the last 10 years was 51%. The
average appreciation for the cities over that time frame was 52%.

Last 20 Years:
During the 20 years ended in the 3rd Quarter of 2009, Philadelphia Home
Prices had a rank of 162, with total appreciation over the 20 year period of
108%. The top performer during the period was Missoula, MT, with appreciation
of 290%. The worst performer during the last 20 years was Merced, CA, with
appreciation of 39%.
The median appreciation for all cities during the last 20 years was 108%. The
average appreciation for the cities over that time frame was 116%.

Historical data on the Philadelphia Home Price Index is available back to the 1st
Quarter, of 1976. The chart has been updated through the 3rd Quarter of
2009. All calculations are based on the quarterly value of the House Price Index
for Philadelphia. Real estate appreciation figures represent total appreciation
over each time period. (Unless specifically stated, the appreciation figures do
not represent annual or quarterly rates of appreciation.)






Commentary  1945
2nd Quarter, 2009 Data: Philadelphia, Pennsylvania

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performers as well as the average and median performance for all cities
during each time period.

Last Quarter:
During the 2nd Quarter of 2009, Philadelphia Home Prices had a rank of 197,
with appreciation of -1.81%. The top performer during the 2nd Quarter was
Pine Bluff, AR, with appreciation of 3.15%. The worst performer during that
period was Madera, CA, with appreciation of -10.24%.
The median appreciation for all cities during the 2nd Quarter was -1.74%. The
average appreciation for all cities during the quarter was -2.05%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 219, with
appreciation during the year of -3.06%. The top performer during the last year
was Elmira, NY, with appreciation of 4.5%. The worst performer during that
period was Merced, CA, with appreciation of -27.1%.
The median appreciation for all cities during this period was -1.83%. The
average appreciation was -3.91%.

Last 5 Years:
Over the 5 years ended with the 2nd Quarter of 2009, Philadelphia Home
Prices ranked 103, with a total appreciation of 27.2%. The top performer during
the 5 year period was Odessa, TX, with appreciation of 74%. The worst
performer during that period was Merced, CA, with appreciation of -36%.
The median appreciation for all cities during this time period was 17%. The
average appreciation over the 5 years was 17%.

Last 10 Years:
During the 10 years ended in the 2nd Quarter of 2009, Philadelphia Home
Prices had a rank of 27, with appreciation during the decade of 94%. The top
performer during the period was Ocean City, NJ, with appreciation of 146%. The
worst performer during the 10 year time period was Detroit, MI, with
appreciation of -2%.
The median appreciation for all cities during the last 10 years was 54%. The
average appreciation for the cities over that time frame was 57%.

Last 20 Years:
During the 20 years ended in the 2nd Quarter of 2009, Philadelphia Home
Prices had a rank of 156, with total appreciation over the 20 year period of
118%. The top performer during the period was Missoula, MT, with appreciation
of 296%. The worst performer during the last 20 years was Rochester, NY, with
appreciation of 47%.
The median appreciation for all cities during the last 20 years was 115%. The
average appreciation for the cities over that time frame was 126%.

Historical data on the Philadelphia Home Price Index is available back to the
2nd Quarter, of 1976. The chart has been updated through the 2nd Quarter of
2009. All calculations are based on the quarterly value of the House Price Index
for Philadelphia. Real estate appreciation figures represent total appreciation
over each time period. (Unless specifically stated, the appreciation figures do
not represent annual or quarterly rates of appreciation.)






Commentary  802
1st Quarter, 2009 Data: Philadelphia, Pennsylvania

The appreciation of Philadelphia Home Prices relative to 380 other metropolitan
areas is detailed below. Each metropolitan area contains one or more cities.
Five different time periods are reviewed.  Each paragraph identifies the top and
bottom performers as well as the average and median performance for all cities
during each time period.

Last Quarter:
During the 1st Quarter of 2009, Philadelphia Home Prices had a rank of 253,
with appreciation of -0.29%. The top performer during the 1st Quarter was
Monroe, MI, with appreciation of 10.96%. The worst performer during that
period was Port St. Lucie, FL, with appreciation of -6.30%.
The median appreciation for all cities during the 1st Quarter was 0.27%. The
average appreciation for all cities during the quarter was 0.41%.

Last Year:
During the last 12 months, Philadelphia Home Prices had a rank of 236, with
appreciation during the year of -2.41%. The top performer during the last year
was Elmira, NY, with appreciation of 9.3%. The worst performer during that
period was Merced, CA, with appreciation of -37.8%.
The median appreciation for all cities during this period was -1.04%. The
average appreciation was -3.47%.

Last 5 Years:
Over the 5 years ended with the 1st Quarter of 2009, Philadelphia Home Prices
ranked 84, with a total appreciation of 34.9%. The top performer during the 5
year period was Odessa, TX, with appreciation of 76%. The worst performer
during that period was Merced, CA, with appreciation of -29%.
The median appreciation for all cities during this time period was 22%. The
average appreciation over the 5 years was 23%.

Last 10 Years:
During the 10 years ended in the 1st Quarter of 2009, Philadelphia Home
Prices had a rank of 38, with appreciation during the decade of 100%. The top
performer during the period was Ocean City, NJ, with appreciation of 162%. The
worst performer during the 10 year time period was Detroit, MI, with
appreciation of 6%.
The median appreciation for all cities during the last 10 years was 57%. The
average appreciation for the cities over that time frame was 62%.

Last 20 Years:
During the 20 years ended in the 1st Quarter of 2009, Philadelphia Home
Prices had a rank of 158, with total appreciation over the 20 year period of
125%. The top performer during the period was Casper, WY, with appreciation
of 327%. The worst performer during the last 20 years was Rochester, NY, with
appreciation of 49%.
The median appreciation for all cities during the last 20 years was 123%. The
average appreciation for the cities over that time frame was 135%.

Historical data on the Philadelphia Home Price Index is available back to the 3rd
Quarter, of 1976. The chart has been updated through the 1st Quarter of 2009.
All calculations are based on the quarterly value of the House Price Index for
Philadelphia. Real estate appreciation figures represent total appreciation over
each time period. (Unless specifically stated, the appreciation figures do not
represent annual or quarterly rates of appreciation.)








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Appreciation Rankings: Philadelphia Home Prices
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