Economic Report: Previously Owned Home Prices Decline - 10/26/06
Submitted by Doug Cunningham on October 25, 2006 - 5:48pm
 Printer-friendly version Send to friendEconomic Report
By Jesse Russell
The cost of single family homes made its biggest decline in 37 years last month. With sales of previously owned homes declining to the lowest level in three years. The median price of single family homes fell by 2.5 percent since September 2005. Home sales have dropped every month since March. The slump in residential real estate is tugging back economic growth with economists expecting until at least the middle of 2007.
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