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The quarterly report by titled “House Pricezs in America” indicates that housing values in the Milwaukee areaaveraged $186,700 in the firstf quarter of 2009. The figure represents a 2.1 percent rebounsd from the fourth quarterof 2008, when area housing valuee averaged $182,800, according to adjusted estimates. Researcherds estimate the first quarter 2009 figureis 2.4 percentt less than statistically normal house values, according to an analysis that considers not only house prices and interesty rates, but household incomes, population densities, and any historicall premiums or discounts metropolitan areasa have exhibited over time.
Officially, researchers do not consider the Milwaukeewmarket "undervalued." Overvaluations or undervaluations were labelz reserved only for values that varied by 14 percentf or more from what researchersa considered statistically normal house values. Accordinyg to the IHS report, Milwaukee-area house valuesa in the first quarter had been on the declin e since a highof $189,700o in 2007. The 2009 figure was still less thanthe first-quarter 2006 valuatioh of $187,900.
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