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April 25, 2008
Home Sales Fall, But Signs of Stability Emerge
NAR reports a 2-percent decline in existing-home sales to an annual rate of 4.93 million in March from the prior month and a 19.3-percent drop from 6.11 million a year ago. Although weak sales caused a jump in resale inventory to a 9.9-month supply, NAR reports an increase in the national median home price to $200,700 in March from $195,600 in February, while the Office of Federal Housing Enterprise Oversight says home prices edged up 0.6 percent in February from the previous month.
Posted by S. Germain at April 25, 2008 07:59 AM