Pioneer Valley Home Prices Fell 4.7% in Third Quarter

Yesterday’s Springfield Republican reports:

Median home prices fell 4.7 percent across the Pioneer Valley to $205,000 in the third quarter, according to the Realtor Association of Pioneer Valley.

Also during July, August and September, the number of homes sold fell 16.8 percent compared to the same three months in 2007, according to figures released Wednesday.

Click for the full article

See also:

Gazette: “Group presses foreclosure relief” (10/24/08)
In an August report, the Center for Responsible Lending in North Carolina projected that almost 2.2 million subprime foreclosures will occur over the next year and half, up from the group’s original 1.1 million estimate in 2006.

The Valley CDC notes in its application for CPA funds that “the foreclosure crisis is nowhere near its end”…

In Hampshire County, foreclosures spiked from 57 to 82, a 44 percent increase, during the [first nine months of 2008 vs. the same period last year].