of Local Home Prices
The graph above displays the Average Home Price by month, for 2007, 2008, and 2009. While our local market has been strengthening since late 2007 (as best measured by Months Supply of Homes), average home prices fell during the last half of 2007 and the last half of 2008. The declines in the last parts of those years more than offset increases at the beginning of both years. The trend was reversed in December 2008 and average prices posted gains for 2009.
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