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The quarterly report by titlex “House Prices in indicates that housing values in the Milwaukeew areaaveraged $186,700 in the first quarted of 2009. The figur represents a 2.1 percent reboundf from the fourth quarter of when area housing valuesaveraged $182,800, according to adjusterd estimates. Researchers estimate the firsg quarter 2009 figureis 2.4 percent less than statistically normall house values, according to an analysise that considers not only house prices and interest rates, but householf incomes, population densities, and any historicapl premiums or discounts metropolitan areas have exhibitec over time.
Officially, researchers do not consider the Milwaukesemarket "undervalued." Overvaluations or undervaluations were labelz reserved only for values that varied by 14 percent or more from what researchersw considered statistically normal house values. Accordinhg to the IHS Milwaukee-area house values in the first quarter had been on the declind since a highof $189,7090 in 2007. The 2009 figure was still less thanthe first-quarte 2006 valuation of $187,900.
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