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CNN: Home sales rise on biggest-ever price drop
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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CNN: Home sales rise on biggest-ever price drop
Realtors' group sees record 8.2% decline in year-over-year prices in February.
NEW YORK (CNNMoney.com) -- Sales of existing homes rose in February as prices dropped a record 8.2% year-over-year, according to the latest reading on the battered housing market by an industry trade group released Monday.
The National Association of Realtors reported that sales by homeowners rose 2.9% in January to an annual pace of 5.03 million, up from January's reading of 4.89 million.
February sales were still down 23.8% from a year earlier. Economists surveyed by Briefing.com expected the report to show existing home sales slowed to an annual pace of 4.86 million.
The median price of a home sold during the month fell 8.2% to $195,900 from $213,500 a year ago - the largest year-over-year price drop in percentage terms on record. Before the start of the current housing slump, it had been 11 years since prices fell compared to a year earlier. To top of page
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Posted 3/24/08 10:40 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
DUCKS2001
Then there was 2
Member since 3/06 5696 total posts
Name:
Christine
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Re: CNN: Home sales rise on biggest-ever price drop
WOW thanks for informing us
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| Posted 3/24/08 11:05 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: CNN: Home sales rise on biggest-ever price drop
Posted by GoldenRod
The median price of a home sold during the month fell 8.2% to $195,900 from $213,500 a year ago - the largest year-over-year price drop in percentage terms on record. Before the start of the current housing slump, it had been 11 years since prices fell compared to a year earlier. To top of page
I never really care about these national articles because they don't tell the story of Long Island.
I posted in the other thread, Nassau County sales were UP in Feb 08 as compared to Feb 07.
So much for a 8.2% drop as that article says.
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| Posted 3/24/08 11:29 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: CNN: Home sales rise on biggest-ever price drop
ITA with the poster above. The CNN article actually said that the drop was in the west, south and midwest with an INCREASE in the northeast.
But, good information for people wanting to relocate, and the general feeling of the country's economy.
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| Posted 3/24/08 11:38 AM |
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