Thursday, September 24, 2009

Home prices down 12.5% from last year

The median sales price was $177,700, down 12.5 percent from $203,200 in the same month last year.

Home sales drop 2.7 percent.

Foreclosures and other financially distressed sellers accounted for about 30 percent of the market.

With unemployment and foreclosures rising in the upper end of the housing market, "there will be plenty of more pain for higher-priced properties,"

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