We’ll let the first line of this bit of news speak for itself:

Prices paid for single-family homes fell 7.7 percent in the first quarter from the level of a year earlier, the steepest decline ever recorded by the National Association of Realtors, which has been tracking sales for 26 years.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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3 Responses to Ouch

  1. Scott Rogers says:

    What was the source of this news snippet? I’m assuming they were referencing median sales price across the entire country?

    Real estate certainly is local — we saw a 7.89% INCREASE in Harrisonburg and Rockingham County.

  2. It comes straight from the mothership — Lawrence Yun, chief economist at NAR Research.

  3. (Whoops!) And yes, he was talking about “median value of existing U.S. single-family home sales in metropolitan areas” which “fell 7.7 percent in the first quarter from a year ago.” (Link to Reuters story.)

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