Friday, February 26, 2010

When Will Real Estate Prices Hit Bottom?


Real estate prices in Prescott, Arizona, continue to trend downward.
The price/time trend graph included herein shows mean home prices for recent calender quarters. Data is through mid February 2010 and includes site-built and manufactured homes.

For the first quarter of 2010 mean home prices were $251,700. In the first quarter of 2007 the mean was $355,677. This is a drop of over 29% in three years.

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