NAR: Prices drop in 80% of metros

The median single-family resale home price dropped in 80.4 percent of the 153 U.S. metro areas tracked in the third quarter compared to the same quarter last year, and 36 metro areas experienced double-digit percentage declines in price, the National Association of Realtors reported today.

The national median price of single-family resale homes was $177,900 in the third quarter, down 11.2 percent compared to the median price in third-quarter 2008.

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