Monday, June 23, 2008
NEW YORK - Single-family home prices has plunged by 7.7% in the first quarter in the largest year-over-year decline since the National Association of Realtors (NAR) began reporting prices in 1982.
The median sales price fell to $196,300, down 4.8% compared with the last three months of 2007. Lawrence Yun, the chief economist of NAR, attributed much of the record decline to liquidity problems dragging down high-priced markets.
"These are highly unusual results because there were very few jumbo loan originations in the latest quarter," he said. "So sales are much slower in high-cost areas." Yun said.
Labels: Sell Your Homes Fast, We Buy Houses
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@ 4:25 AM
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