Average Home Prices Fall Nationwide in the First Quarter of 2009
May 18, 2009 · Filed Under Real Estate · Comment
Ninety percent of American cities endured falling home prices in the first quarter as first – time home – buyers looking for bargains were the major influence in the market.
According to a statement made by the National Association of Realtors on Tuesday, May 11, 2009; median sales prices of existing homes declined 134 out of 152 comparative metropolitan areas compared with the same period a year ago. Prices did rise in 18 other undisclosed cities.
Foreclosures, “fixers”, REO’s, and other distressed properties contributed to about half of the market’s closed sales, even though sales did fall 3.2 percent from last year.