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October 26, 2006

2

HOME PRICES POST BIGGEST DROP ON RECORD

by Bob Schwartz

Sales of existing homes fell for a sixth consecutive month in September and the median sales price dropped by a record amount.

The National Association of Realtors reported Wednesday that home sales fell by 1.9 percent in September to the slowest pace since January 2004.

The national median price of a single-family home fell 2.5 percent from the price in September 2005. That was the biggest year-over-year price decline in records going back nearly four decades. Home prices had also fallen in August and it marked the first back-to-back declines in 16 years.   La Jolla real estate

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2 Comments
  1. San Diego tooth whitening agents
    Mar 10 2008

    I remember in 2005 that It seems every month the paper reported that real estate sales were down by double digits though the values seem to be holding up. You would think an intelligent person would realize sales cannot drop by such a magnitude without values following.
    Robert
    San Diego California Dentists

  2. San Diego lawyers
    Mar 10 2008

    It seems that SD real estate follows about a 10 year boom to bust cycle; perhaps it takes 10 years for people to forget the last bust.
    Jake
    San Diego County Lawyers

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