U.S. home prices fell for a third straight month in January, a government agency said Tuesday, adding to evidence that the housing market is weakening even though the economy is improving.Wait, did the Realtors say the median existing home sales price was $156,100?! Holy [expletive]! It was $170,600 in the fourth quarter! Lawrence Yun, you're not doing your job! Fudge the numbers! Give us some spin!
Home prices fell 0.3% on a seasonally adjusted basis in January compared with December, according to the Federal Housing Finance Agency's monthly home-price index. ...
The National Association of Realtors reported Monday that sales of existing homes in February dropped 9.6% from a month earlier. The median sales price of $156,100 was the lowest since February 2002. Prices are falling because of the large amount of distressed properties hitting the market.
New homes aren't doing any better than existing homes:
New home sales fell 16.9% in February, to the lowest level since the government began keeping records in 1963, as the reeling housing market failed to generate any momentum.Won't Senator Johnny Isakson please use more taxpayer money to prolong the downturn longer, so we don't have to feel the pain right now? We like the Band-Aid pulled off as slowly as possible. If the government hadn't interfered with the free market this whole mess could have been over in 2010, but now we'd like it over in 2014.
Sales fell to an annual rate of 250,000 from the revised 301,000 in January, according to the Census Bureau's monthly report released Wednesday. The rate was down a whopping 28% from the 347,000 of February 2010.