Bloomberg.com: Home Prices Fell in Half U.S. Cities in 4th Quarter
Feb. 15 (Bloomberg) -- Home prices fell in half of U.S. cities in the fourth quarter as a housing slump forced sellers to accept lower prices, the National Association of Realtors said. The median price for a single-family home fell in 73 of 149 metropolitan areas studied by the Chicago-based real estate trade group. The national median price for a previously owned house was $219,300 in the fourth quarter, down 2.7 percent from a year earlier when the median price was $225,300, the group said in a report today...The national median existing condominium and co-op price was $220,900, down 2.1 percent from $225,700 a year earlier. The national figure covers 58 markets. The trade group said condo prices dropped the most in the New Orleans, Louisiana area, which is struggling to recover from the effects of Hurricane Katrina. Condo prices plunged 29 percent to $147,100 from $206,100 a year earlier.