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Price Index - Still Affordable?
The Coldwell Banker 2006 Price Index cam out recently with a Canada vs. USA comparison of real estate market, a most expensive place to live in America, and a state by state guide to the most expensive and most affordable real estate markets in each state.
The most expensive place to live in America is Beverly Hills with an average price tag of $2,206,883 and the least expensive was Killeen, TX $136,725 average price tag.
In Canada, the most expensive real estate is in Vancouver, BC with average prices of $1,327,875 and the least expensive average home price in Prince Edward Island at $157,630.
The state of Wisconsin has Milwaukee average home prices at $324,750 and the most affordable real estate market in Eau Claire with average home prices of $158,650.
What this means for those of us in more affordable markets (including Eau Claire) is that now is a great time to buy because chance are the local market only has room to go up in comparison with national averages.  When or when this may happen is anyone's guess, but you wouldn't expect any downward trend unless the entire US market spiraled down with it.
To check out the entire report and find your neck of the woods, ... more

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