Industry News

Radar Logic: Home prices fall in most metros

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The price per square foot of homes fell in 19 of 25 metro markets studied in a monthly report released today by research and analytics company Radar Logic Inc. The latest RPX Monthly Housing Market Report is based on the aggregated value of daily price-per-square-foot statistics for selected metro areas for the 28-day period ended Oct. 31 compared to the same period last year. According to the report, the price per square foot of a home in the Sacramento, Calif., area plunged 18.2 percent year-over-year during the study period. The price per square foot fell 18 percent in St. Louis, Mo.; 14 percent in Las Vegas; 12.6 percent in Jacksonville, Fla.; and 12.2 percent in San Diego year-over year during the study period, Radar Logic also reported. The report notes that Jacksonville statistics may be exaggerated due to a reporting delay. Meanwhile, the markets in the report with the largest year-over-year gains during the study period include: Charlotte, up 4.6 percent; New York, up 2.7 perc...