Suburban Home Values Still Underperforming

The value of homes in Philadelphia’s suburbs remains far below the pre-housing-crisis peak, while values in Philadelphia and the country as a whole have surged since 2012, according to an analysis by Kevin Gillen, an economist at Drexel University.

The chart shows the percentage change since the first quarter of 2017 of Gillen’s House Price Index, which tracks the value of an area’s entire housing stock, and not just the prices of homes that have sold.

*Bucks, Chester, Delaware, and Montgomery Counties in Pennsylvania; and Burlington, Camden, and Gloucester Counties in New Jersey.

SOURCE: Kevin Gillen, senior research fellow, Drexel University’s Lindy Institute for Urban Innovation