Housing Still Appreciating

Dear Friend, 

As we have reported in the past, the housing market in Pittsburgh has not experienced the negative effects of the housing bubble as other regions have. Data from the Federal Housing Finance Agency continue to show modest housing price appreciation of 0.8 percent in the Pittsburgh region over the most recent 12-month period.  We also had positive appreciation (6.7 percent) over the most recent five-year period.  All of our comparison regions are still experiencing depreciation. 

Over the 12-month period ending in the 4th quarter of 2011, housing price appreciation in the Pittsburgh region was 0.8 percent.

However, preliminary data from the Census Bureau on housing permits reveal that the number of new building permits issued in the Pittsburgh region fell in 2011. 

Sincerely,

Douglas Heuck

Program Director

PittsburghTODAY