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Charlotte Area Real Estate News. Homes for Sale
National Housing Report for August 2007

August was the eighth consecutive month of declining home prices nationwide. There is really no positive news in today's Standard & Poor's monthly report. At both the national and metro-area levels, the fall in home prices is showing no real signs of a slowdown or turnaround.

The biggest declines in home prices in August were in Tampa, Fla., down 10.1 percent; Detroit, down 9.3 percent; and San Diego, down 8.3 percent. Prices were up slightly in Charlotte, N.C., Portland, Ore., and Seattle. And, along with Dallas, they were unchanged in Atlanta. Recent reports show that the nationwide housing market decline is deepening.

The National Association of Realtors said last week that U.S. sales of existing homes were down more than 19 percent in September compared with year-earlier numbers. It was the biggest decline in more than seven years. The Realtors said the median price in September was down 4.2 percent from a year ago. In summary national home values have declined for eight month.

Published Thursday, November 01, 2007 9:21 PM by Angie Adams NC/SC REALTOR® Broker

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