The Altos Research 10-City Composite Price Index was down by 0.5% in March and 1.8% during the first quarter of 2010.  The Philadelphia Real Estate Information on Price, Inventory and Days on the Market is at the end of this article.

• The Index has now shown monthly declines for the past 8 months but the rate of decline has moderated. Readings of weekly price changes have shown modest expected seasonal increases in the past 7 weeks, indicating that the headline price number will tick up in the coming months.

• Asking prices fell in 22 of 26 major markets. The largest monthly decline occurred in San Diego with prices falling 2.9% during March and 7.0% during the first quarter. Washington, D.C. experienced the largest increase with prices rising by 1.5% during March.

• Listed property inventory jumped in 22 of 26 markets tracked. The inventory increases were largest in Houston, Boston and Los Angeles. The big inventory rise is seasonally expected after the low point at the first of the year. Nationally inventory is 10% lower than last year at this time, though climbing rapidly going into the spring.

• All markets except San Francisco, San Jose and San Diego had a median days-on market of 100 or more in March. The Chicago and Miami markets experienced the slowest turnover with a median of 219 days-on-market or more than 7 months.

• During March listing prices fell in 22 of 26 major markets; were flat in one – Chicago; and increased in three markets: Cleveland, Boston and Washington, D.C. The largest monthly decline occurred in San Diego with prices falling 2.9% during March and 7.0% during the first quarter.

• Prices fell by two percent or more during the month in 4 other markets: Phoenix, Denver, Salt Lake City and Tampa. Washington, D.C. experienced the largest increase with prices rising by 1.5% during March.

Unlike the Case-Schiller Index, Philadelphia is included in the Altos Index.  The data for Philadelphia is as follows….

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