Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name: God, bless & heal my DH, JenG's DH Rob & DebG
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Home Sales Slow, 28 States See Declines
By MARTIN CRUTSINGER, AP Economics Writer 21 minutes ago
WASHINGTON - The slowdown in the once-sizzling housing market is spreading, with 28 states and the District of Columbia reporting spring sales declines, led by big drops in former boom areas of Arizona, Florida and California.
Nationally, sales were down 7 percent in the April-June quarter this year compared with the same period in 2005, the National Association of Realtors said Tuesday in its latest state-by-state look at housing conditions around the country.
The Realtors survey showed that the biggest declines occurred in states that had been enjoying red-hot sales during the five-year housing boom.
The five biggest declines this spring compared to the April-June period of 2005 were Arizona, down 26.9 percent; Florida, down 26.7 percent; California, down 25.3 percent; Virginia, down 23.9 percent, and Nevada, down 23.5 percent.
The Realtors report depicted a tale of two housing markets, with former boom areas experiencing declines and other areas of moderate sales gains during the boom years experiencing strong growth.
In all, 20 states had sales gains in the spring, led by Alaska, which enjoyed a 48.6 percent jump in sales; followed by Arkansas, up 17.9 percent; Texas, up 11.3 percent; North Carolina, up 11 percent, and Vermont, up 9.1 percent compared to the spring of 2005.
"States with moderately priced areas that have experienced healthy job creation are seeing sales gains," said David Lereah, chief economist for the Realtors. "The economic backdrop remains favorable for the housing market, which is helping home sales level out."
In a separate survey of price changes in 151 metropolitan areas, the Realtors reported that 26 metro areas experienced outright price declines while 37 areas were still enjoying double-digit price increases.
The biggest price drops in percentage terms were in Danville, Ill., where home prices fell by 11.2 percent in the spring compared with the spring of 2005, and the Detroit area, where home prices were down 8 percent.
At the other end of the scale, prices rose the most in Baton Rouge, La., reflecting a 27.3 percent increase, followed by Ocala, Fla., where prices rose by 25.3 percent, and the Virginia Beach, Va., area, where prices were up 23.6 percent compared with the spring of 2005.
Realtor.ORG
***************************************** NC is HOT!
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MegZee
My bunny
Member since 5/06 8777 total posts
Name: Meaghan
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Re: Home Sales Slow, 28 States See Declines
my friend is in the Coast Guard and was stationed in Juneau. She said it was beautiful, but she hated it. Its very expensive to eat also, unless you like fish! and there are 2x more men than women...which could be good
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Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name: God, bless & heal my DH, JenG's DH Rob & DebG
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Re: Home Sales Slow, 28 States See Declines
Posted by Meaghan729
my friend is in the Coast Guard and was stationed in Juneau. She said it was beautiful, but she hated it. Its very expensive to eat also, unless you like fish! and there are 2x more men than women...which could be good
Since I: love the cold, love fish, love remote areas, love Alaska (or what I know of it anyway) these are all VERY good things to keep in mind in case DH and I don't "make it"...
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