Housing Prices Tuble news from WSJ

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NEWS ALERT
from The Wall Street Journal


Jan. 26, 2009

Home buyers took advantage of discounted prices in distressed housing markets in December, leading existing-home sales to rise.

The median home price was $175,400 in December, down 15.3% from $207,000 in December 2007, the National Association of Realtors said Monday. The median price in November this year was $180,300.

Home resales rose to a 4.74 million annual rate, a 6.5% increase from November's revised 4.45 million annual pace. Of all sales in December, about 45% were distress sales at discounted prices.

For more information, please see: http://online.wsj.com/article/SB123298209359015631.html?mod=djemalertNEWS


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posted by Peter Greene