ThreeRiversREI
01-15-2007, 08:37 AM
Data taken from Investor Riches (http://www.investmentriches.com/cp_view.php?id=48). Poster makes no warranty as to it's accuracy. Due your own due diligence. Some settling may occur during shipment.
Median Home Price: $122,600
2005 Appreciation: 5.37%
5 year Appreciation: 31.36%
OVERVIEW
Pittsburgh, a city in Western Pennsylvania , is the second-largest city in the state. Nicknamed The Steel City , Pittsburgh was traditionally considered to be the center of the American steel industry. In recent years the city has turned to technology, especially biotechnology and robotics, leading the Wall Street Journal to dub the city "Roboburgh." One of the few under-appreciated cities, Pittsburgh has been voted the 3rd least expensive city in the nation.
MARKET TRENDS
The Pittsburgh real estate market is a little softer now than it was just a year ago. Home prices are still rising, but not as aggressively as last season. Certain trendy city neighborhoods are unaffected by the slow down, but in many of the other neighborhoods, properties are taking longer to sell. On the average, Pittsburgh 's market has swung a bit more in the favor of the buyers. Listed in a survey of real estate trends done by Senior Examiners and Asset Managers at Federal Bank and Thrift Regulatory agencies, Pittsburgh was one of the few markets that saw an increase in residential construction. This does not necessarily reflect a surplus in residential and single family homes. PMI, a mortgage insurance company, also did a market survey in the middle of 2005 – Pittsburgh ranked 48 of 50 on their high risk index, which places the city on the lower end of homes that have higher median prices.
KEY EMPLOYERS
UPMC Health Systems (31,000), Giant Eagle (30,00), University of Pittsburgh (11,088), Highmark, Inc. (11,000), 84 Lumber (5,500)
PREDICTIONS FOR THE FUTURE
Currently Pittsburgh is one of the more affordable markets in the US.
Median Home Price: $122,600
2005 Appreciation: 5.37%
5 year Appreciation: 31.36%
OVERVIEW
Pittsburgh, a city in Western Pennsylvania , is the second-largest city in the state. Nicknamed The Steel City , Pittsburgh was traditionally considered to be the center of the American steel industry. In recent years the city has turned to technology, especially biotechnology and robotics, leading the Wall Street Journal to dub the city "Roboburgh." One of the few under-appreciated cities, Pittsburgh has been voted the 3rd least expensive city in the nation.
MARKET TRENDS
The Pittsburgh real estate market is a little softer now than it was just a year ago. Home prices are still rising, but not as aggressively as last season. Certain trendy city neighborhoods are unaffected by the slow down, but in many of the other neighborhoods, properties are taking longer to sell. On the average, Pittsburgh 's market has swung a bit more in the favor of the buyers. Listed in a survey of real estate trends done by Senior Examiners and Asset Managers at Federal Bank and Thrift Regulatory agencies, Pittsburgh was one of the few markets that saw an increase in residential construction. This does not necessarily reflect a surplus in residential and single family homes. PMI, a mortgage insurance company, also did a market survey in the middle of 2005 – Pittsburgh ranked 48 of 50 on their high risk index, which places the city on the lower end of homes that have higher median prices.
KEY EMPLOYERS
UPMC Health Systems (31,000), Giant Eagle (30,00), University of Pittsburgh (11,088), Highmark, Inc. (11,000), 84 Lumber (5,500)
PREDICTIONS FOR THE FUTURE
Currently Pittsburgh is one of the more affordable markets in the US.