Cleveland, Ohio is ahead of the curve when it comes to our nation’s housing recovery.
CLEVELAND, Ohio--April 22, 2009--Cleveland home prices have started to edge back up, according to data from the S&P/Case-Shiller Home Price Index. The S&P/Case-Shiller Home Price Index measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States.
Cleveland appears to be a leading indicator when it comes to housing prices. The New York Times has put together a nice graphic to compare each city in the S&P/Case-Shiller Home Price Index. It shows that Cleveland did not have the housing price “bubble” as other big cities, and consequently the falling prices were not as severe.
Recent data from the Northern Ohio Regional Multiple Listing Service shows that March home sales are up 21.5% vs. February. More good news to establish a recovery has started.
“It looks like Cleveland hit the bottom in March of 2008,” said John Sender, P.E., a Cleveland Home Inspector. “Since then the prices have moved back up.” Many of our local businesses are dependent on the housing market. This is good news for our economy.
About John Sender, P.E.:
John Sender, P.E. is president of Metro Home Inspections LLC, an Engineering Consulting Firm in the Cleveland, Ohio area. Services include Home Inspections, Structural Certifications, Radon testing, and EDR Neighborhood Environmental Reports. Since 1988 he has helped thousands of clients perform real estate due diligence at any time their property needs to be evaluated. Services are provided when clients buy or sell property, during bankruptcy or divorce, and for estate planning.
Contact:
John Sender, P.E.
Metro Home Inspections LLC
440-777-5171
http://www.MetroHome.us
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This is the original press release. Ignore the one at tamiblogs.com
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