Home Prices Fall Nationwide
Seems like 2010 has been a never-ending year of bad news for real estate. Let's hope that the new year brings in some good news for a change.
The boys at Standard & Poor's/Case-Shiller have just reported that home prices fell 1.3 percent in October from September. Every city in the report's 20-city index experienced a drop in prices. Atlanta fell the most; prices there dropped 2.9 percent from a month earlier. Washington, D.C. dropped 0.2 percent after posting six consecutive months of increases. (How come prices inside the Beltway went up but they went down around the rest of the country during those six months? Perhaps we had to bail out our politicians so those who lost in the mid-term elections could still sell their Washington property at a profit.)
Locally, Tampa Bay area prices fell another 0.9 percent from September to October. Sales volume, however, appears to be increasing. Sales of existing homes rose 7 percent from October to November according to the Florida Realtors. Tampa Bay sold 2,060 homes in November compared to 1,923 in October. The median home price was $125,000 for the region.
Don't know about you but I'm ready for two things: first, some good real estate news and second, some warmer temperatures.
-30-
The boys at Standard & Poor's/Case-Shiller have just reported that home prices fell 1.3 percent in October from September. Every city in the report's 20-city index experienced a drop in prices. Atlanta fell the most; prices there dropped 2.9 percent from a month earlier. Washington, D.C. dropped 0.2 percent after posting six consecutive months of increases. (How come prices inside the Beltway went up but they went down around the rest of the country during those six months? Perhaps we had to bail out our politicians so those who lost in the mid-term elections could still sell their Washington property at a profit.)
Locally, Tampa Bay area prices fell another 0.9 percent from September to October. Sales volume, however, appears to be increasing. Sales of existing homes rose 7 percent from October to November according to the Florida Realtors. Tampa Bay sold 2,060 homes in November compared to 1,923 in October. The median home price was $125,000 for the region.
Don't know about you but I'm ready for two things: first, some good real estate news and second, some warmer temperatures.
-30-
posted by Terry Ward at 5:00 AM
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