Good News for Home Buyers, Home Prices Fall

Sales of existing homes in the U.S. unexpectedly rose in February as prices fell by the most in four decades. Purchases increased 2.9 percent, the first gain in seven months, to an annual rate of 5.03 million, the National Association of Realtors said today in Washington. The median home value dropped 8.2 percent from a year earlier, the most since the organization began keeping records in 1968. Read more...

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US Home Prices Drop 11.4 Pct. in January
A widely-watched index of U.S. home prices fell 11.4 percent in January, its steepest drop since data for the indicator was first collected in 1987. The decline reported Tuesday in the Standard & Poor's/Case-Shiller index means prices have been growing more slowly or dropping for 19 consecutive months. The index tracks the prices of single-family homes in 10 major metropolitan areas in the U.S.

Posted by Editor at March 25, 2008 10:13 AM