Capitol Report: The nation’s newest hot housing market — Philadelphia

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Like Rocky Balboa, Philadelphia is the underdog that came from behind.

Forget Seattle, San Francisco, Denver, and all the other sizzling west coast metros: there’s a new hot housing market. And just like one of its most famous mythical sons, it’s a bit of an underdog whose time has come.

Philadelphia home prices are on a tear, according to Econsult Solutions, an economics consulting firm based in the city. Econsult’s proprietary index shows double-digit annual price growth starting in mid-2016, with annual appreciation averaging over 20% throughout 2017.

Like any housing index, Econsult’s has some human adjustments that take into account seasonal sales patterns, quality and age of housing stock, and other factors.

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