Industry News

U.S. home sales, prices decline in third quarter

NAR economist: Market in 'full transition'
Published on Nov 20, 2006

Total sales of single-family homes, apartment condos and co-ops dropped 12.7 percent in the third quarter compared to third-quarter 2005, the National Association of Realtors reported today. The Realtor group also announced that among a sample of 148 metro areas, the median sales price of existing single-family homes dropped 1.2 percent in the third quarter compared to third-quarter 2005. The report found that 102 metro areas had price gains, while 21 experienced double-digit annual increases, 45 areas had price declines, and one area was unchanged. At the state level, most states had fewer sales of single-family homes, apartment condos and co-ops in the third quarter compared to third-quarter 2005, the Realtor group reported. The sales decline was sharpest in Nevada, at 38 percent, followed by Arizona, at 36 percent; Florida, at 34.2 percent; California, at 28.6 percent; and Hawaii, at 25.8 percent. North Carolina led states with a 9.7 percent rise in sales in third-quarter sales in ...

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