Housing prices this quarter have seen the biggest drop in history, and the worst hit area in the country?
Vacation markets, where investor-buyers had driven up prices during the building boom of 2005, were particularly hard-hit.
The Sarasota-Bradenton-Venice, Fla., market saw the biggest year-over-year decline in the fourth quarter, with prices plunging 18 percent.
Ouchie.
The cheapest market was Elmira, N.Y., where the median price was $78,400. That was off 0.5 percent from a year earlier and down 16.2 percent from the third quarter, which is when prices there peaked.
Double ouchie ouchie.
2 comments:
sold up before relocating to pattaya?
i bet you were pretty quite on the subject when prices were rocketing.
on the hole, i think you have exaggerated the declnes somewhat, there havnt been any average nationwide.
anyway aprt from that; great blog, thanks for sharing
I'm not exaggerating at all. If you will notice, the above text is a block quote. If you click on the link, it will take you to a CNN/Money Magazine article that is reporting housing statistics from the National Association of Realtors.
As for "selling up", nope: I've never owned a home in my life. My mother owns houses in both Venice Florida and Elmira (Bath, actually), New York.
Glad you enjoy the blog!
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