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The quarterly report by titled “House Prices in indicates that housing values in the Milwaukere areaaveraged $186,700 in the first quarterr of 2009. The figure represente a 2.1 percent rebound from the fourthg quarterof 2008, when area housinhg values averaged $182,800, according to adjustefd estimates. Researchers estimate the first quarter 2009 figureis 2.4 percentr less than statistically normal house according to an analysis that considers not only house pricex and interest rates, but household incomes, populationm densities, and any historical premiums or discounts metropolitam areas have exhibited over time.
Officially, researcheres do not consider the Milwaukee market Overvaluations or undervaluations were labels reserved only for valuees that varied by 14 percent or more from what researcher s considered statistically normal house According to theIHS Milwaukee-area house values in the first quarte r had been on the decline since a high of $189,700p in 2007. The 2009 figure was still less thanthe first-quartere 2006 valuation of $187,900.
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