October 4, 2007
US MARKET SLIPS ONCE AGAIN
There was more bad news for the US market: national property prices recorded a second-quarter gain of just 3.7 per cent year-on-year.
Prices in the Northeast climbed by 6.3 per cent to $299,200 (£156,800), making it the only region to turn in a comparatively good performance. Midwestern prices fell by two per cent, whilst both the south and the west made small gains of 4.1 and 3.6 per cent respectively.
Florida performed relatively well, with house prices in Tampa climbing 18.8 per cent up to $231,600 (£121,000). Another solid performer was the Ocala area, which recorded the second highest figures in the U.S, clocking gains of 25.3 per cent ($169,500; £89,000). Miami remained one of the most expensive cities in the U.S, with an average house price of $376,200 (£197,200).
Condo prices were down nationally by 0.3 per cent and failed to increase into double figures in Florida, with 9.9 per cent in Tampa the highest recorded gains. The Northeast again led the market, with average condo prices rising to $257,800 (£135,000).
Posted on: Florida
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