-- For December 2007, of the 25 Metropolitan Statistical Areas examined,
four residential markets showed price increases.
-- Transaction volumes have been a leading indicator for price declines
in most cities. Boston, Cleveland, Detroit, Sacramento and San Diego are
experiencing a recent increase in volume after a period of price declines.
-- The Economic Stimulus Act of 2008 is now law. Cities with higher
price points may see increases in the liquidity of the residential mortgage
market as a result, possibly sparking an end to the slide in housing
prices.
The complete December 2007 RPX Monthly Housing Market Report is available
on Radar Logic's website at:
www.radarlogic.com/research/RPXMonthlyHousingMarketReportforDecember2007.pdf
Report Methodology
The RPX Monthly Housing Market Report is produced by Radar
Logic Incorporated, a New York-based real estate data and analytics
company. These reports are published 63 days after the last transaction
date of every month, providing insight and detailed analysis of Radar
Logic's 25 Metropolitan Statistical Areas (MSAs) across the United States.
This study is based on the premise that there is not a national housing
market; rather, each of the MSAs, while having economic influences in
common like credit and mortgage rates, is influenced primarily by local
conditions.
Data reflects the 28-day aggregated value of Radar Logic
Daily™ Prices, which represent the most timely and accurate
surrogate available for a "spot market" for residential real estate. The
price per square foot metric used is a powerful tool for analyzing housing
markets because it significantly reduces the influence of property sizes on
overall housing price trends, which can skew results. The Daily Prices for
each MSA are sorted by their percentage change from the same period last
year, without adjusting for seasonal variations. In some cases, Daily
Prices may vary based on reporting characteristics within individual MSAs.
The January 2008 RPX™ Monthly Housing Market Report will be released on
April 3, 2008 at 9:00 AM ET.
About Radar Logic
Radar Logic Incorporated, a real estate data and analytics company,
calculates and publishes the Radar Logic Daily™ Prices. The prices
track housing values for major U.S. metropolitan areas and are the basis of
the Residential Property Index™ (RPX™), a market that enables real
estate to be traded as a liquid asset, via property derivatives marketed by
major financial institutions. RPX allows real estate and financial
professionals to manage opportunity and risk, invest in real estate values
without owning physical assets and effectively analyze markets using a
consistent metric: price per square foot.
For more information on Radar Logic and the RPX, including licensed
dealers, please visit www.radarlogic.com.
Contact Information: Media Contacts: Kate Donat, Marketing Manager Radar Logic Incorporated (212) 965-0300 x 126 Nancy Tamosaitis Vorticom, Inc. (212) 532-2208