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by CareyBot

Declines in the sales price of single-family resale homes in the Western U.S. pulled the nation's median price down 0.7 percent in the first quarter, to $166,100, compared to the same quarter last year, the National Association of Realtors reported today. Regionally, the median price of single-family resale homes plunged 8.3 percent in the West and 0.8 percent in the Midwest while rising 9 percent in the Northeast and 1.1 percent in the South. NAR reported that the median single-family existing-home price rose in 91 of 152 metro areas (59.9 percent) in the first quarter compared to the same quarter last year, with 58 metro areas (38.2 percent) reporting price declines and three reporting that the median price was unchanged. Also, NAR reported that sales of all existing homes, i...