Industry NewsMarkets & Economy

NAR: REOs, short sales pull down home prices

88% of metro areas tracked report year-over-year declines
Published on May 12, 2009

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by CareyBot

The median resale single-family home price fell in 88 percent of the 152 metro areas tracked in the first quarter compared to the same quarter last year, according to a National Association of Realtors report, with 18 areas reporting price increases.

Nationally, the median price of resale single-family homes dropped 13.8 percent year-over-year in the first quarter, to $169,000.

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