The National Association of Realtors said Thursday that distressed sales--such as foreclosures--triggered a sharp decline in fourth-quarter median home prices:
Distressed sales – foreclosures and short sales – accounted for 45 percent of transactions in the fourth quarter, dragging down the national median existing single-family price to $180,100, which is 12.4 percent below the fourth quarter of 2007 when conditions were more balanced; the median is where half sold for more and half sold for less.
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Orlando of FL 1:24PM February 12, 2009