Las Vegas NowMedian home prices fell nationwide in 3Q
Associated Press - November 10, 2009 9:15 PM ET
A real estate group says home prices fell in eight out of every 10 U.S. cities in the third quarter of this year as heavily discounted distressed sales made up 30 percent of all deals.
But the National Association of Realtors said Tuesday that home sales continued their climb, with quarterly sales outpacing the second quarter and the previous year's figures.
The median sales prices of existing homes declined in 123 out of 153 metropolitan areas compared with the same period a year ago. Prices rose in the other 30 cities.
Las Vegas saw its median price tumble almost 35 percent to $138,500 year-over-year, second only to Fort Myers, Fla., where prices plunged 40 percent to $98,000 from a year ago.
The national median price clocked in at $177,900, or 11 percent below the third quarter last year.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
