email this
print this
reprint or license thisSAVE AND SHARE
|
|
|
|
|
|
|
|
Region's home sales continue to decline
Sales of existing homes continued to erode in March, dropping 19.3 percent nationally from a year ago, the National Association of Realtors reported today .
Median prices fell 7.7 percent from March 2007.
In the eight-county Philadelphia region, year-over-year sales fell 32.8 percent last month from March 2007, according to Prudential Fox & Roach HomExpert, which is based on data from Trend Multiple Listing Service.
The drop was less than in February, when HomExpert reported a year-over-year decline of 40.2 percent.
Median prices declined or were flat in all eight counties, HomExpert reported. HomExpert factors in both Delaware counties and Mercer and Salem Counties in New Jersey in calculating the regionwide median price, and that 12-county median showed a drop of 2.3 percent year over year.
"We're seeing a continuation of the downturn that began in the fall after the subprime crisis in August," said Steve Storti, Prudential Fox & Roach's senior vice president for marketing.
