Today’s Republican reports:
See also:
AP: “Home Prices Fall in August for 8th Month”, 10/30/07
U.S. home prices fell nationwide in August for the eighth consecutive month, offering little hope of a turnaround anytime soon, according to the S&P/Case-Shiller index released Tuesday…
“There is really no positive news in today’s report,” said Shiller, chief economist for MacroMarkets LLC… “At both the national and metro area levels, the fall in home prices is showing no real signs of a slowdown or turnaround.”
Home prices as measured by the index have fallen by more every month since the beginning of the year. August is the 21st month of decelerating returns.
An index of 10 U.S. metropolitan areas fell 5 percent in August from a year ago. That was the biggest drop since June 1991.
Boston Herald: “Bay state home sales in dramatic sept. slide”, 10/23/07
The Bay State housing market is choking like the Cleveland Indians…
The number of condos changing hands fell 19.6 percent, while median condo prices dropped 3 percent to $260,000 – the lowest level seen since March 2005…
Wellesley College economist Karl Case said the resulting sales declines show “that the credit crunch is going to have an impact on the housing market.”
Boston Herald: “Bay State home, condo sales drop again”, 10/22/07
Market tracker The Warren Group reported today that median Bay State house prices last month fell 4.27 percent from year-earlier levels to $304,000.
That’s a 3-year low.
Warren also said the number of houses changing hands declined 18.7 percent from a year ago – the biggest year-over-year drop-off since September 2006.
AP: “Sales of Existing Homes Fall by Largest Amount on Record in September”, 10/24/07
The National Association of Realtors reported Wednesday that sales of existing homes fell 8 percent in September, the largest decline to show up in records dating to 1999. The seasonally adjusted annual sales rate of 5.04 million existing homes was also the slowest pace on record.
…The median price — the point at which half the homes sold for more and half for less — fell to $211,700 in September, down by 4.2 percent from the sales price a year ago…
By region of the country sales were down 10 percent in the Northeast, 9.9 percent in the West, 7 percent in the Midwest and 6 percent in the South.
The slowdown in sales meant that the inventory of unsold homes rose to 4.4 million units in September. At the September sales pace, it would 10.5 months to eliminate the overhang of unsold homes, a record length of time…
Analysts said the price declines will worsen in coming months until inventories are reduced to more sustainable levels.
September home sales fell 10 percent across Franklin, Hampden and Hampshire counties, while the median price slipped 1.2 percent to $205,000… [Source: Realtor Association of Pioneer Valley]
By county, sales dropped in Hampshire County by 12.8 percent in the third quarter, from 392 to 342 homes sold…
The median sales price in Hampshire County rose slightly in the third quarter, from $264,900 to $265,000.
See also:
AP: “Home Prices Fall in August for 8th Month”, 10/30/07
U.S. home prices fell nationwide in August for the eighth consecutive month, offering little hope of a turnaround anytime soon, according to the S&P/Case-Shiller index released Tuesday…
“There is really no positive news in today’s report,” said Shiller, chief economist for MacroMarkets LLC… “At both the national and metro area levels, the fall in home prices is showing no real signs of a slowdown or turnaround.”
Home prices as measured by the index have fallen by more every month since the beginning of the year. August is the 21st month of decelerating returns.
An index of 10 U.S. metropolitan areas fell 5 percent in August from a year ago. That was the biggest drop since June 1991.
Boston Herald: “Bay state home sales in dramatic sept. slide”, 10/23/07
The Bay State housing market is choking like the Cleveland Indians…
The number of condos changing hands fell 19.6 percent, while median condo prices dropped 3 percent to $260,000 – the lowest level seen since March 2005…
Wellesley College economist Karl Case said the resulting sales declines show “that the credit crunch is going to have an impact on the housing market.”
Boston Herald: “Bay State home, condo sales drop again”, 10/22/07
Market tracker The Warren Group reported today that median Bay State house prices last month fell 4.27 percent from year-earlier levels to $304,000.
That’s a 3-year low.
Warren also said the number of houses changing hands declined 18.7 percent from a year ago – the biggest year-over-year drop-off since September 2006.
AP: “Sales of Existing Homes Fall by Largest Amount on Record in September”, 10/24/07
The National Association of Realtors reported Wednesday that sales of existing homes fell 8 percent in September, the largest decline to show up in records dating to 1999. The seasonally adjusted annual sales rate of 5.04 million existing homes was also the slowest pace on record.
…The median price — the point at which half the homes sold for more and half for less — fell to $211,700 in September, down by 4.2 percent from the sales price a year ago…
By region of the country sales were down 10 percent in the Northeast, 9.9 percent in the West, 7 percent in the Midwest and 6 percent in the South.
The slowdown in sales meant that the inventory of unsold homes rose to 4.4 million units in September. At the September sales pace, it would 10.5 months to eliminate the overhang of unsold homes, a record length of time…
Analysts said the price declines will worsen in coming months until inventories are reduced to more sustainable levels.