From Reuters via USA Today:
The pace of existing home sales fell in January to a 4.89 million unit annual rate, lowest level in nearly a decade, while prices slid and inventories swelled, the National Association of Realtors said Monday.
The median price of a single-family home — half sold for more, half for less — slid below $200,000 to $198,700 the report says.
The inventory of homes for sale rose 5.5% to 4.19 million units at the end of January, which represents about 10.3 months' supply at the current sales pace. The national median home price fell 4.6% from a year ago to $201,100.
The drop in sales and the fifth straight decline in prices underscored the continued pressure facing housing, which is struggling to emerge from its worst slump in a quarter-century.
1 comment:
What I don't understand, is how do they indicate weather the adverage price of homes are lowering? Are most of the American families not interested in buying a home?
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