A journey into Main Street economics.

Existing Home Prices Drop 1.5% in September

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NAR just announced that the median existing home price fell 1.5% to $174,900 in September. Sales grew much faster than expected due to the first-time homebuyer tax credit, but this will likely be the highest sales pace for the year due to expiration of the credit and seasonal factors.

Is this the start of the next leg down? Sure looks like it to me.


Written by Myron

10/23/2009 at 10:07 AM

Posted in Real Estate

Tagged with , , ,

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