Greater Philadelphia region's housing market has not been hit as hard as the US, and has fared better than many other Metropolitan Statistical Areas (MSA) where price declines are occurring.  

• The average price of an existing single family home in the Philadelphia-Camden-Wilmington MSA was 3.3% higher than a year ago, compared to only a 1.8% increase for the U.S., in Q3 2007.
• For the U.S. the average sales price of an existing single family home in 2007q4 was only 0.8% higher than for the same quarter a year ago (i.e., in 2006q4).
• In Bucks, Chester, Delaware, Montgomery and Philadelphia counties, housing prices in 2007q4 were 2% higher than a year ago.
• In Burlington, Camden, and Gloucester counties, housing prices were 1% higher.
• They were 1.7% higher in New Castle County, DE; Salem County, NJ; and Cecil County, MD). 
• Mercer County recorded the only drop in the region as the average price was only 0.5% lower than in 2006q4.  
• Boston experienced a 2.8% drop in housing prices in 2007q4.
• Bethesda-Gaithersburg market in Washington D.C. saw a 2.7% decrease.

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Greater Philadelphia has one of the lowest median home prices of the top U.S. metro areas.

• Philadelphia ranks 5th in terms of affordability among top MSAs with 43% of homes being affordable to the median income family. 
• Greater Philadelphia offers a diverse range of neighborhoods and residents can choose from urban, suburban or rural living.
• View Q2 2008 Greater Philadelphia housing price estimates by municipality and county
• View Philadelphia Fed Analysis: House Price Index, 1st Quarter 2008 
• Read a report on Greater Philadelphia Housing Prices (distributed by the Prudential Fox & Roach Realtors Research Division).