Market Leaders Profile: Philadelphia

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Data and information on the Philadelphia remodeling market

October 01, 2009

 

Population: 5,838,471 (2.7 percent increase since 2000)

Existing home sales: Q2 2009 sales were down 20.1 percent from 2008, but up 61.6 percent from Q1

Home prices:  Down 3.06 percent from 2008; up 27.17 percent over last 5 years

Homeownership rate: 69.4 percent (No. 29 among major metros)

Median household income: $57,831

Local unemployment rate: 8.8 percent (up from 5.6 percent in 2008)

Sources: FHFA House Price Index, Pennsylvania Association of Realtors, U.S. Bureau of Labor Statistics, U.S. Census Bureau 



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