NAR: Real estate prices flat, sales tumble

Share of distressed property sales rises to 34% in Q3

Home prices in the third quarter remained essentially flat despite a drop-off in existing-home sales compared to the same period in 2009, according to a report by the National Association of Realtors.

Median existing single-family home prices rose year-over-year in 77 of 155 metropolitan areas tracked by the association. At the same time, median prices fell in 76 metro areas and stayed the same in two. Home prices reflect sales prices of closed transactions.

Single-family homes sold for a median $177,900 in the third quarter, roughly flat compared to $178,200 in the third quarter of 2009.