New indicator highlights Fort Wayne’s strong economy

City of Fort Wayne Seal

News release from the City of Fort Wayne, dated June 2, 2011 – see the webmaster’s note at the end of this post:

New indicator highlights Fort Wayne’s strong economy

(June 2, 2011) – In another indicator that the city’s economy is continuing to improve, MSN recently recognized Fort Wayne as one of the “15 Cities With the Most Improvement in Home Prices,” ranking 6th out of 15. Fort Wayne was ranked ahead of Oklahoma City, Boston and San Antonio, amongst many others.

The article highlighted Fort Wayne’s growth in the midst of the difficult economy, noting that “jobs are growing in this northeastern Indiana city” and that “home prices are down just 4% from their peak…and are inching back up steadily.”

“We’ve been working hard to keep Fort Wayne’s economy healthy and sound during this recession,” said Mayor Tom Henry. “While it’s nice to receive some national attention, we’re not about to let up now: we’re going to continue working to create a environment of economic opportunity for businesses, homeowners and residents.”

According to the Federal Housing Finance Agency, prices are up for the last 3 quarters in Ft. Wayne, yet continue to fall nationally. Ft. Wayne values held up six times better than the national average. In other words, a $100,000 home purchased a year ago in Ft. Wayne would have increased in value by more than $1000 compared to a nationwide drop of nearly $10,000 (Source: HPI Calculator, Federal Housing Finance Agency).

1 Year – Fort Wayne – $101,073 | U.S.A. – $90,030

Source: HPI Calculator, Federal Housing Finance Agency

This latest indicator follows a string of announcements highlighting companies that have relocated and invested in Fort Wayne, including Great Batch and General Mills.

Fort Wayne 6th City With Most Improvement in House Prices

MSN Real Estate article

“Jobs are growing in this northeastern Indiana city, particularly in the construction sector. As in many other Midwestern cities, residents of this town never saw a huge boom and bust. Home prices are down just 4% from their peak in the third quarter of 2007 and are inching back up steadily.”

 

Webmaster’s note I have several news releases from various organizations sitting in my inbox. Part of the mission of this blog is to keep a historic running record of the goings on in Fort Wayne. To that end, even though they are out of date, I am including this older news release.

 

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