pinning a data point: national residential real estate peak was July 2006

all real estate is, indeed, local
Quick and dirty post just to establish a baseline …. I came across this Bloomberg news article last week about the national residential real estate market in which an aside caught my attention:

National prices fell 1.5 percent in the third quarter from the same period last year, and decreased 2 percent from the previous three months. Prices are 29 percent below their peak of July 2006.

It is not noteworthy, surprising, or even especially interesting. For me, it is just a citation to an authority establishing The US Residential Real Estate Peak as July 2006, almost two years before the local peak in Manhattan.

© Sandy Mattingly 2010