There doesn't seem to be much to be upbeat about in the housng market recently. A recent article on msnmoney.com reported that consumer confidence was holding up well this month before the latest bout of financial turmoil but house prices suffered another record annual drop during July, according to data released on Tuesday. Then came Tuesday the 29th of September. Tuesday's data was a timely reminder that the economy's woes are a result of the worst housing slump since the Great Depression. Since the peak of the housing boom in July 2006, house prices have dropped by about 20 percent.
Prices of U.S. single-family homes were down a record 16.3 percent in July from a year earlier, according to the Standard & Poor's/Case-Shiller Home Price Indexes, though a slowing monthly rate of decline has encouraged some hopes that the worst falls may be over
The Conference Board said its index measuring consumers' mood rose to 59.8 in September from 58.5 in August. That was above Wall Street's expectations but the timing of the survey may not fully reflect the latest chapter in the financial crisis."They took the survey before the latest fallout, so I don't know what people would be saying today," said Al Kugel, chief investment strategist, Atlantic Trust in Chicago.
"I think consumers are feeling better more because of the gasoline prices are going down. That was the thing that spooked them earlier this year, every time they had to fill their tank it was $40 or $50."
For more information on homes in the Philadelphia area, please visit my website at http://www.BillSells.com
ZIP Code: 19312 Location Characteristics: Devon-Berwyn is a census-designated place that probably describes the densely populated area at the center of what the residents and the post office consider the two separate towns of Devon and Berwyn, located in Chester County, Pennsylvania. As of the 2000 census, it had a total population of 5,067. Devon and Berwyn are both part of Pennsylvania's Main Line.
About William McGarrigle:
I am a licensed Real Estate Broker who has been selling homes since 1985. My area of specialization is "geographic". I specialize in home sales in Malvern, West Chester, Exton, Devon, Berwyn, and Paoli. This is the area I live in and am very familiar with. These areas are serviced by the Great Valley, Tredyffrin/Easttown, and West Chester Area School Districts. I am more than happy to help you decide which area best fits your lifestyle.
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