Even though there were more real estate transactions in my market area in 2008 than there were in 2007, less money changed hands. The data I am looking at indicates that the dollar-volume of homes sold is almost 28 percent lower than last year’s dollar volume. Home sellers felt the squeeze as did local real estate agents.

The homes that sold were lower-priced homes in neighborhoods with high foreclosure rates, and many homes in the area lost some value between 2007 and 2008.

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