Norris: Sales are up and prices are lowest since 1997

Started by Riversider

almost 16 years ago

Posts: 13572

Member since: Apr 2009

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http://www.nytimes.com/2010/01/30/business/economy/30charts.html?ref=business The number of existing homes that changed hands in 2009 — 4.6 million — was up 5 percent from the previous year. It was the first annual increase since 2005. But to accomplish that, prices had to be cut sharply. The median sales price was $173,200, compared with $196,600 in 2008. Adjusted for inflation, that price was the lowest since 1997. As the accompanying chart shows, not since 2005 has the price of the median existing home risen in real dollars.

Response by marco_m

almost 16 years ago

Posts: 2481

Member since: Dec 2008

good article. can NYC reach 1997 prices?

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Response by memito

almost 16 years ago

Posts: 294

Member since: Nov 2007

Given the amount of easy and dumb money floating around - probably not.

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Response by marco_m

almost 16 years ago

Posts: 2481

Member since: Dec 2008

money's not easy anymore though. most of the dumb money has either been wiped out or bought already. that why we go lowere from here, but I'm not sure how much farther.

Norris: Sales are up and prices are lowest since 1997

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