The National Association of Realtors reported that sales by homeowners slid in October to an annual pace of 4.98 million. That was down 3.1% from September's revised reading of 5.14 million. ...I bet you didn't see that coming.
The national median existing-home price in October was $183,300, down 11.3% from a year ago when the median was $206,700. In September, the median existing-home price was $191,400.
October's median existing-home price was the lowest since March 2004, when it stood at $183,200. That means that homeowners who has lived in their homes for 4-1/2 years are seeing their homes worth the same or less as when they bought them.
Tuesday, November 25, 2008
National median house price falls to $183,300
Surprise! NAR says housing prices are still falling:
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Hyper inflation is likely to hit the US economy in less than 24 months. The price of everything is going to rise. People who are locked into 'healthy' mortgages may be at an advantage when it comes to the price of keeping a roof over their heads. Otherwise, lets all get ready for $5 loafs of Wonder Bread.
ReplyDeleteJanet, keep on dreaming. Hyper inflation isn't coming to bail you out of your mcmansion.
ReplyDelete"The national median existing-home price in October was $183,300, down 11.3% from a year ago when the median was $206,700."
ReplyDeleteAnd the year before that the median existing-home price was higher still.
Real estate salespeople, tell me again *"Real estate only goes up"*
I need a good laugh from time to time.