Tuesday, March 22, 2011

Existing Home Sales in U.S. Slump; Prices Drop to Lowest Since April 2002

We are getting closer to 2001 prices.  Home prices between 1998 to 2001 weren't that dramatic.  So, another big drop in home prices could bring valuations back to the...20th Century?  It's incredible to think of the roller coaster ride.
The median price decreased to $156,100 last month from $164,600 in February 2010
I'm trying to find where in the article they calculate the April 2002 prices.  The last Case-Shiller information I had was 2003 prices.  Again, that isn't much different from 2002 prices with this market with dropping prices and low mortgage rates.
Home prices dropped in the 12 months to December by the most in a year, according to the S&P/Case-Shiller index of home values. In 20 cities, prices fell 2.4 percent, the biggest year- over-year decrease since December 2009, the group said Feb. 22.
Read it all

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