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Saturday, May 30, 2009

Home prices crash

The median price of an existing home sold in April crashed 15.4% annually, the National Association of Realtors said today. The average price of such a home is now just $170,200. Home sales did pick up 2.9% from March, but not nearly enough to make a dent in the glut of supply. Existing home inventories actually increased last month, to a 10.2-month supply. That’s just under 4 million homes.
--from Agora Financial's "Five Minute Forecast".

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