Past Mortgage Problems Show Up in Home Sales
South: existing-home sales declined 6 percent in September to an annual pace of 2.05 million, and are 18.7 percent below a year ago. Median price: $174,400, down 5.5 percent from September 2006.
Midwest: existing-home sales dropped 7 percent to an annual rate of 1.19 million in September, and are 16.2 percent below September 2006. Median price: $170,700, up 1.4 percent from a year ago.
West: existing-home sales fell 9.9 percent in September to a level of 910,000, and are 27.8 percent below a year ago. Median price: $308,900, which is 8.8 percent lower than September 2006.
Northeast: existing home sales dropped 10 percent to a pace of 900,000, and are 13.5 percent lower than September 2006. Median price: $261,700, up 0.5 percent from a year ago.
Source: Realtor Magazine Online/Daily Real Estate News