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Major Market Real Estate Swoon Trots On
Real estate prices dropped in nearly every major US market in the month of November while a few have weathered the storm with modest growth. Boston and Detroit were the hardest hit areas and home prices there dropped precipitously by five and four and a half percent, respectably.
Markets in the Pacific Northwest have displayed strong growth despite the realty recession. Miami has also been immune to the effects with a 7.4 percent growth. These areas are being fueled by economic indicators and tourism.
Nationwide declines show no signs of relenting with some areas being effected more than others, like Boston and Detroit.
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