Ripples

Star Tribune Tue, 13 May 2008 18:51:18 GMT
Median home prices drop in first quarter in two-thirds of cities surveyed

WASHINGTON - Median home prices fell in two-thirds of the cities surveyed during the first three months of this year while sales declined in 46 states compared to a year ago, according to the latest report highlighting the depth of the nation's housing woes. The National Association of Realtors said Tuesday that median prices for existing single-family homes dropped in 100 of 149 metropolitan areas in the January-March period, while 48 metropolitan areas saw price increases and one reported no change. The 67 percent of cities reporting price declines was the largest percentage of cities reporting price drops in the history of the survey, which goes back to 1979. In the fourth quarter, prices had fallen in 36 percent of the cities surveyed. Nationally, the med

[[keywords: Housing;Metro;]]