Philadelphia real estate has performed exceptionally well this past decade. Philadelphia, despite the current downturn, came in number 2 out of the 75 largest cities in the country. The study calculated the change in home values over the last 10 years and ranked the cities by total appreciation in that time period.
The median home value in Philadelphia has risen 121 percent, from $51,207 in October 2000 to $113,160 in October 2010. Philadelphia never quite saw the housing bubble burst the way many other major U.S. cities did, with 17 consecutive months of annualized appreciation greater than 20 percent. Home values peaked in Philadelphia in May 2007 at $120,353 and remained relatively flat for some time. However, this trend has changed in recent months, from September to October home values fell 2 percent.
Read the complete article: Top 20 Best Performing Cities of the Decade