Snapshot Across the U.S. Market

Regionally, NAR reports the following with existing-home sales:

Northeast: jumped 15 percent in the second quarter to a pace of 797,000 units but are 8.4 percent below a year ago. The median existing single-family home price in the Northeast declined 9.7 percent to $246,000 in the second quarter from the same quarter in 2008.

After Elmira, N.Y., the best gain in the region was in Buffalo-Niagara Falls, N.Y., where the median price of $115,400 rose 6.7 percent from the second quarter of 2008, followed by Syracuse, N.Y., at $124,600, up 0.8 percent.

Midwest: rose 3.2 percent in the second quarter to a pace of 1.06 million but are 5.3 percent below a year ago. The median existing single-family home price in the Midwest was down 8.6 percent to $146,800 in the second quarter from the same period in 2008.

After Davenport-Moline-Rock Island, the next strongest metro price increase in the region was in Bismarck, N.D., where the median price of $157,800 was 3.5 percent higher than a year ago, followed by Springfield, Ill., at $116,200, also up 3.5 percent, and Topeka, Kan., at $113,300, up 2.7 percent.

South: increased 3.9 percent in the second quarter to an annual rate of 1.76 million but are 7.2 percent lower than the second quarter of 2008. The median existing single-family home price in the South was $158,600 in the second quarter, down 10.3 percent from a year earlier.
After the Cumberland region of Maryland and West Virginia, the strongest price increase in the region was in Beaumont-Port Arthur, Texas, with an 11.0 percent gain to $138,600, followed by, Jackson, Miss., at $140,100, up 8.2 percent, and Shreveport-Bossier City, La., at $146,800, up 3.0 percent.

West: declined 2.3 percent in the second quarter to an annual rate of 1.13 million but are 11.8 percent above a year ago. The median existing single-family home price in the West was $212,600 in the second quarter, which is 26.6 percent below the second quarter of 2008.

The best metro price performances in the West were in Kennewick-Richland-Pasco area of Washington, where the median price of $163,900 rose 0.3 percent from a year earlier, and Yakima, Wash., at $162,800, also up 0.3 percent. No other areas covered in the region reported increases.

I hope you find this information useful.  Thanks for stopping by.

Constantine Isslamow

Broker/Manager

Source: National Association of REALTORS

Constantine Isslamow

Constantine Isslamow

Broker of Record
CENTURY 21 United Realty Inc., Brokerage*
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