National Dec Housing Numbers
January 27th, 2009
All real estate is local. National numbers are important to the country, but your local town holds the numbers that you really care about as a homeowner. CNNMoney.com posted an article with December sales and median price results nationally.
Here is the national summary:
Annual number of sales in 2008 was 4.91 million units.
This rate in 2007 was 5.65 million units
The rate in 1997 was 4.37 million units.
In the Northeast specifically, the sales pace in December was 720,000 units, down 14.3% from December 2007.
Median existing home price was $175,400.
Median price in Dec 2007 was $207,000, which is a 15.3% drop.
The report states that home prices were pushed lower by the high volume of distressed sales, which accounted for 45% of December transactions.
Take a look at the local numbers that we report on www.Metrowesthome.com for a better feel for numbers critical to you. We are seeing very low inventory right now and something has to break, either more inventory or it is going to put upward pressure on pricing.
Ed and Doriane Daniels are part of The MAhome Team, a Metrowest Boston real estate group ready to answer any questions or concerns regarding our local market. They can be reached at 508-341-7880.Categories: Market Conditions, Real Estate
This entry was posted on Tuesday, January 27th, 2009 at 10:37 am and is filed under Market Conditions, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
