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A Record Drop In Home Prices
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| Parent(s) |
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| Contributor | RP |
| Last Edited | RP Oct 26, 2006 11:53pm |
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| Category | Report |
| Media | Newspaper - Washington Post |
| News Date | Friday, October 27, 2006 05:00:00 AM UTC0:0 |
| Description | The price of existing homes last month fell 2.2 percent, the largest monthly decline in the almost four decades the number has been tracked, according to an industry report released yesterday.
Nationwide, the number of existing single-family homes sold fell 14.2 percent in September compared with September 2005, according to the report from the National Association of Realtors. The number of sales has fallen each month since March.
Charles W. McMillion, an economist and president of District-based MBG Information Services, said he saw little sign that the decline was ending. "I don't see stability when sales continue to decline sharply and price continued to decline sharply," McMillion said. "It's pretty hard to argue we've reached a sustainable level." |
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