Philadelphia was named one of the top 10 cities where it is a good time to buy now according to Forbes.com. For people who currently rent in Philadelphia, the premium to buy is much smaller than usual. Check out these stats from Forbes:
Metropolitan Statistical Area: Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
Premium to Buy, 15-year Average: 28.4%
Premium to Buy, Q3 2009: 18.7%
Five-year Home Price Index Forecast: 13.85%
Median Rent: $957
Median Home Price: $227,500
Blended Mortgage Rate: 5.33%
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