Economy - Tuesday (Investor's Business Daily)

[riky]

Economy - Tuesday
    (Investor's Business Daily)

 


Investor's Business Daily - The median sales price in metro areas fell 7.7% vs. a year earlier to $196,300, the worst since records began in 1979, the Nat'l Assoc. of Realtors said. Soaring foreclosures have reduced the value of nearby properties, said NAR chief economist Lawrence Yun. Prices fell in 100 of 149 U.S. cities, led by Calif.'s Sacramento, San Bernardino and Riverside. Also, homes for sale rose by 40,000 in March to 4.06 mil. It would take 9.9 months to sell off the inventory, up from 9.6 months at the end of Feb.


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