Housing Prices Holding Steady in Pittsburgh

Again it is great to hear that statistics are showing the housing market in Pittsburgh, PA is better than most other parts of the country. The average home price in the Pittsburgh region is even up in recent reports.  This is great news for sellers. Buyers – take advantage of those incredible rates. Thinking about Real Estate investment, go for it.

The following quoted from a Pittsburgh News Service

“Although production of new housing is down 50 percent from the peak construction years of 2003 and 2004, the region is one of the few markets not seeing a decline in overall pricing levels,” said Frank Thompson, president of Sweetwater Builders Inc. of Cranberry.

In October, the median new home price in the five-county Pittsburgh region was $273,607, up slightly from $267,050 in October 2007, according to RealStats, a South Side-based real estate information service. The median price is the point at which half the homes sold for more and half for less.

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