Prices Drop Nationally, While Sales Increase in 2009
Jan 26, 2010 by Tre Pryor, Editor-in-Chief. News
It appears that while home values were down more than expected for 2009 the number of sales increased over 2008. Keep in mind that the following data is from an AP story considering the country as a whole.
Still, prices plunged by more than 12 percent last year – the sharpest fall since the Great Depression. The price drop for 2009 – to a median of $173,500 – showed the housing market remains too weak to help fuel a sustained economic recovery. Total sales for 2009 were nearly 5.2 million, up about 5 percent from 2008.
As we wrote earlier this month about real estate in Louisville, Kentucky, “…from 2008 to 2009, the total of all home sales went up 2.5%, while prices dropped 4.5%.” Our sales experienced half the growth of the nation but only dropped 4.5% compared to the nation’s 12%.
Tags: AP, Louisville real estate
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