Dayton fares better than nation in home values!!!!! (sales, real estate)

[Daytonnatian]

We could use some good news around here. Thank you, DBJ!!!!!

Friday, February 20, 2009


Dayton fares better than nation in home values


Dayton Business Journal

The Dayton market experienced a smaller decline in home prices than Ohio and the nation in December, according to First American CoreLogic Inc.

Dayton home prices fell 4.84 percent in December when compared with the same month a year ago, said the firm’s LoanPerformance Home Price Index. According to the Dayton Area Board of Realtors, the average sale price of a home in Dayton fell to $103,278 last December, from $120,089 in December 2007.

Ohio, meanwhile, was the state with the 20th highest decline in December home prices at 5.93 percent.

Nationwide, home prices fell 11.1 percent in December and the total value of residential properties was $19.1 trillion, down from the $21.5 trillion reported in December 2007.

The December decline represents 12 straight months of depreciation, the report said.

Additionally, more than 700 metropolitan markets, or nearly 75 percent, saw home price depreciation in December. That compares with 254 markets experiencing depreciation in December 2007 and 394 in June 2008.

First American CoreLogic’s LoanPerformance Home Price Index tracks increases and decreases in sales prices for the same homes over time, providing monthly home price indices and median sales prices available in 7,618 ZIP codes, 958 core based statistical areas and 677 counties.



E-mail tdemeropolis@bizjournals.com. Call (937) 528-4427

[Ohioan58]

Errr... not to be a buzzkill, but Dayton has not had anything approaching a speculative real estate bubble in the last 40+ years. Frankly, the prices here do not give a lot of room for things to drop further - Dayton (city itself) has had a rampant foreclosure problem for at least five years. and Dayton is not a transient community anyway. All of this adds up to no peak values to fall off of.

In a way, a Las Vegas or other sunbelt city falling dramatically says that they did have a boom once. We don't get "booms" in Dayton.