Home prices fell 12.4% during the fourth quarter of 2008, the largest year-over-year decline since the National Association of Realtors began keeping comprehensive records in 1979.
The median price for a U.S. home sold during the fourth quarter of 2008 fell to $180,100, down from $205,700 during the last quarter of 2007. ...
Distressed properties, the foreclosures and short sales that have flooded the market, accounted for 45% of all deals. That has driven sales volume up in Nevada, California and other states hit hard by foreclosures, but these heavily discounted homes have also pushed median prices down.
Friday, February 13, 2009
NAR: Q4 home prices down 12.4% YoY
The National Association of Realtors says fourth quarter home prices were down 12.4% year-over-year:
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I DON'T BELIEVE IT!!!! PRICES WILL BOTTOM OUT!!! THIS TIME ITS DIFFERENT! WERE IMMUNE HERE! PEOPLE HAVE MONEY HERE!!!111one1!!
ReplyDeleteThe average price for a home in the US is $180K?
ReplyDeleteI can slap a fire sale price on my home in the 'core' Washington area and buy an "average" US home with cash. But that would mean living in Toledo, or Little Rock, or Casper, WY.
"The average price for a home in the US is $180K?"
ReplyDeleteMedian, not average.
"But that would mean living in Toledo, or Little Rock, or Casper, WY."
ReplyDeleteYeah but even living in Los Angeles, New York, Chicago or any other big city in the US is cheaper than living here....and those places have WAY more culture and class in their sewer pipes than DC has in its most upstanding high priced areas.
LA has more class & culture than DC?
ReplyDeletePlease.
"LA has more class & culture than DC?"
ReplyDeleteBY FAR! Try leaving the beltway sometime, there is a whole planet out there! Shocking I KNOW!
LOL Anon 11:29 probably equates class and culture with 24 hour gyms and Joan Rivers facelifts. LOL
ReplyDeleteyeah lance, thats all that exists outside of DC.
ReplyDelete