Declining Property Values?
November 18, 2008 8:22 pm Peters Township Blog, Pittsurgh Real Estate NewsI know there is a lot of media coverage lately about the real estate market and how home values are declining - it is worrisome! I found these stats encouraging and I wanted to share them with you. If you would like specific information about your home, your neighborhood, give me a call or email me.
These ratings are provided by a Private Mortgage Insurance (PMI) company about the risk of property values declining in major markets across the U.S. PMI companies have the most to lose and are therefore considered a very reliable source for this type of information.
Pittsburgh is rated less than a one percent chance of further declines.
| Rank MSA | Score |
| 1 Fort Lauderdale-Pompano Beach-Deerfield Beach; FL |
99.5 |
| 1 Riverside-San Bernardino-Ontario; CA |
99.5 |
| 1 Las Vegas-Paradise; NV |
98.5 |
| 1 Los Angeles-Long Beach-Glendale; CA |
98.5 |
| 1 Phoenix-Mesa-Scottsdale; AZ |
96.3 |
| 1 San Diego-Carlsbad-San Marcos; CA |
95.9 |
| 1 Providence-New Bedford-Fall River; RI-MA |
72.4 |
| 1 San Francisco-San Mateo-Redwood City; CA |
71.6 |
| 3 Edison-New Brunswick; NJ |
35.1 |
| 3 Nassau-Suffolk; NY |
29.4 |
| 3 Washington-Arlington-Alexandria; DC-VA-MD-WV |
26 |
| 4 Detroit-Livonia-Dearborn; MI |
17.8 |
| 4 Minneapolis-St. Paul-Bloomington; MN-WI |
14.8 |
| 5 New York-White Plains-Wayne; NY-NJ |
9.8 |
| 5 Boston-Quincy; MA |
7.7 |
| 5 Portland-Vancouver-Beaverton; OR-WA |
6.4 |
| 5 Chicago-Naperville-Joliet; IL |
6.3 |
| 5 Atlanta-Sandy Springs-Marietta; GA |
3.5 |
| 5 Seattle-Bellevue-Everett; WA |
2.3 |
| 5 Philadelphia; PA |
2.1 |
| 5 Nashville-Davidson-Murfreesboro-Franklin; TN |
1.6 |
| 5 Cleveland-Elyria-Mentor; OH |
1.1 |
| 5 Milwaukee-Waukesha-West Allis; WI | <1 |
| 5 Charlotte-Gastonia-Concord; NC-SC | <1 |
| 5 Cincinnati-Middletown; OH-KY-IN | <1 |
| 5 Denver-Aurora; CO | <1 |
| 5 Columbus; OH | <1 |
| 5 Kansas City; MO-KS | <1 |
| 5 Indianapolis-Carmel; IN | <1 |
| 5 Memphis, TN-MS-AR | <1 |
| 5 Pittsburgh; PA | <1 |
| 5 Dallas-Plano-Irving; TX | <1 |
Until next time,
Jim
