I hate to be the bearer of bad news, but as much as we wish it were not true, statistics do not lie! Even though sales have fallen, buyers can scoop up a great deal!
Existing-home sales fell in 46 states last quarter
Thursday, February 14, 2008 10:28 AM
WASHINGTON (AP) — Sales of existing homes fell in 46 states during the October-December quarter, with metropolitan areas showing growing weakness, a real estate trade group said today.
The fourth-quarter data from the National Association of Realtors underscore the breadth of the housing market's slump.
South Dakota was the lone state to show a sales increase. Existing home sales there rose 8.9 percent from the same quarter a year ago. Sales were unchanged in North Dakota. No sales figures were available for Idaho, Indiana and New Hampshire.
Median home prices fell in more than half of the 150 metropolitan areas surveyed. Out of the 77 that experienced declines, 16 showed double-digit percentage drops, the trade group said. The largest price declines were found in Lansing, Mich., Sacramento, Calif. and Jackson, Miss.
Thursday, February 14, 2008
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