Home sales prices also went negative in October, falling 3 percent from a year ago to a median of $140,000. That’s down from a peak of $158,000 in June 2007, according to information gathered through the real estate industry’s multiple listing service.
Through the first 10 months of 2008, the number of home sales in North Texas is down 12 percent from the same period last year and median prices are down 3 percent.
Not all the news in October’s home sales report is bad.
The number of homes for sale in the area has dropped 16 percent. Just over 40,000 homes are on the market – the lowest number since January 2006.
Real estate agents say the for sale inventory is declining in part because many sellers have taken their homes off the market and have decided to wait out the housing downturn.
Tuesday, November 11, 2008
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