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March 28, 2008
Existing-Home Sales Rise as Prices Plummet
The NAR reports that sales of previously owned homes rose an unexpected 2.9 percent in February as buyers took advantage of the large supply of properties on the market that were available at low prices. The median sales price of existing homes last month was $195,900--down 8.2 percent from $213,500 a year earlier--and also represented the biggest decline since 1999, when NAR started tracking the data.
Posted by S. Germain at March 28, 2008 07:44 AM