Home sales fall 25%

By Les Christie, staff writer


NEW YORK (CNNMoney.com) -- Any possible housing market recovery hit a snag during the three months ended September 30, as a government tax credit for homebuyers wound down.

Home prices fell only slightly during the quarter, according to a report from the National Association of Realtors (NAR), but the number of homes sold plummeted more than 25%, compared with the previous quarter.

The fall-off in sales volume remains a troubling feature of the current housing market scene because there's rarely been a more attractive time to buy.

"Given the relationship between mortgage interest rates, home prices and median family income, the buying power in today's market is matching the highest levels we've seen dating all the way back to 1970," said NAR President Ron Phipps.

Many sales were undoubtedly happened in early 2010 as homebuyers accelerated their purchases to qualify for the tax credit, which shaved as much as $8,000 off their tax bills.

Contracts had to be signed by the end of April to qualify and the deals had to close by the end of September.

The national median price for a single-family home sold during the quarter was $177,900, down 0.2% from the same period a year ago and up 0.6% from the second quarter of 2010.

Single-family home prices rose 2.5% to $253,400 in the Northeast, the only region that showed price improvement. Midwest prices fell 3% to $145,600, prices dropped 1.9% in the South and 0.4% in the West region.

The metro area with the biggest gain was Burlington, Vt., where the median price of $286,300 was 17.6% higher than 12 months earlier. The biggest loser was Ocala, Fla., down 20% to $82,200.

San Jose, Calif., recorded the highest median price -- $628,700 -- during the quarter, just nosing out Honolulu at $628,100.

Youngstown, Ohio, the old steel town, had the lowest median sale price, at $60,400.

Condo prices fared worse than those of single-family houses. The national median fell 3.9% from 12 months earlier to $171,400.

Palm Bay, Fla., had the biggest year-over-year loss: down 32% to $73,000; Jacksonville. Fla., was off 31% to $63,200. Phoenix condo prices also plunged, down 26.6% to $73,300.

Condo prices in the New York metro area soared, up 34.5% to $400,000, the most, by far, of any city. To top of page

NAR 2nd quarter 2010 home prices
Untitled Document
Metro Area State Median home price
3nd Quarter
Percent change from
3nd Quarter 2009
Abilene  TX  $125,700 8.2%
Akron  OH  $105,700 -1.4%
Albany-Schenectady-Troy  NY $208,000 6.4%
Albuquerque  NM $185,100 0.9%
Allentown-Bethlehem-Easton  PA-NJ  $234,900 1.3%
Amarillo  TX $127,600 4.2%
Anaheim-Santa Ana-Irvine  CA   $508,400 1.9%
Appleton  WI $117,700 -4.7%
Atlanta-Sandy Springs-Marietta  GA  $113,500 -12.3%
Atlantic City  NJ $229,400 2.9%
Austin-Round Rock  TX  $205,000 8.4%
Baltimore-Towson  MD $257,100 -1.5%
Barnstable Town  MA $333,700 4.4%
Baton Rouge  LA $172,100 3.1%
Beaumont-Port Arthur  TX  $124,100 -7.1%
Binghamton  NY  $109,000 -4.6%
Birmingham-Hoover  AL  $146,000 -4.8%
Bismarck  ND $168,500 7.2%
Bloomington-Normal  IL  $159,200 1.3%
Boise City-Nampa  ID  $131,800 -14.1%
Boston-Cambridge-Quincy  MA-NH $366,500 5.3%
Boulder  CO  $363,300 1.4%
Bridgeport-Stamford-Norwalk  CT  $451,200 13.3%
Buffalo-Niagara Falls  NY  $128,800 7.6%
Burlington-South Burlington  VT $286,300 17.6%
Canton-Massillon  OH  $79,500 -11.0%
Cape Coral-Fort Myers  FL $100,900 3.0%
Cedar Rapids  IA $156,100 7.1%
Champaign-Urbana  IL  $155,400 10.5%
Charleston-North Charleston  SC  $211,100 8.2%
Charleston  WV $130,900 -0.8%
Charlotte-Gastonia-Concord  NC-SC  $200,100 0.3%
Chattanooga  TN-GA $120,000 -3.3%
Chicago-Naperville-Joliet  IL  $196,600 -6.4%
Cincinnati-Middletown  OH-KY-IN  $129,300 -1.8%
Cleveland-Elyria-Mentor  OH  $114,500 -1.1%
Colordo Springs  CO $201,400 3.2%
Columbia  MO  $147,700 -0.7%
Columbia  SC $149,000 3.5%
Columbus  OH $135,100 -5.3%
Corpus Christi  TX $139,100 0.9%
Cumberland  MD-WV  $107,400 -12.0%
Dallas-Fort Worth-Arlington  TX  $171,500 14.2%
Davenport-Moline-Rock Island  IA-IL  $121,800 5.4%
Dayton  OH  $103,000 -7.7%
Decatur  IL  $88,600 0.1%
Deltona-Daytona Beach-Ormond Beach  FL  $114,000 -10.0%
Denver-Aurora  CO $238,500 4.1%
Des Moines  IA $156,600 0.0%
Detroit-Warren-Livonia  MI  N/A N/A
Dover  DE  $190,800 -4.6%
Durham  NC  $184,900 0.3%
Elmira  NY  $110,500 16.9%
El Paso  TX $139,200 4.8%
Erie  PA  $116,400 13.2%
Eugene-Springfield  OR $203,700 -1.4%
Fargo  ND-MN  $161,400 13.6%
Farmington  NM  $178,800 -4.1%
Florence  SC  $112,000 -7.7%
Ft. Wayne  IN $97,000 -5.4%
Gainesville  FL $154,600 -10.0%
Gary-Hammond  IN $125,900 -0.6%
Glens Falls  NY  $149,400 -2.0%
Grand Rapids  MI $89,900 -7.4%
Green Bay  WI $120,500 -10.9%
Greensboro-High Point  NC  $129,800 -1.4%
Greenville  SC  $145,000 -0.6%
Gulfport-Biloxi  MS $118,100 -14.4%
Hagerstown-Martinsburg  MD-WV  $143,800 -5.3%
Hartford-West Hartford-East Hartford  CT $244,100 2.8%
Honolulu  HI $628,100 4.3%
Houston-Baytown-Sugar Land  TX  $158,900 -1.1%
Indianapolis  IN $123,300 2.6%
Jackson  MS  $129,500 -8.3%
Jacksonville  FL $137,000 -6.0%
Kankakee-Bradley  IL  $121,700 -8.9%
Kansas City  MO-KS $141,400 -3.3%
Kennewick-Richland-Pasco  WA  $180,800 5.3%
Kingston  NY  $223,600 8.2%
Knoxville  TN $144,900 2.0%
Lansing-E.Lansing  MI $83,300 -3.8%
Las Vegas-Paradise  NV  $138,100 -0.3%
Lexington-Fayette KY $144,000 -0.7%
Lincoln  NE $137,900 1.4%
Little Rock-N. Little Rock  AR $135,000 1.9%
Los Angeles-Long Beach-Santa Ana  CA  $350,000 1.3%
Louisville  KY-IN $138,500 2.1%
Madison  WI $231,800 6.4%
Manchester-Nashua  NH  $238,300 0.3%
Memphis  TN-MS-AR  $119,600 -7.5%
Miami-Fort Lauderdale-Miami Beach  FL  $214,800 -1.0%
Milwaukee-Waukesha-West Allis  WI  $209,300 4.9%
Minneapolis-St. Paul-Bloomington  MN-WI  $171,400 -7.3%
Mobile  AL $120,000 -6.5%
Montgomery  AL $138,100 2.9%
Nashville-Davidson--Murfreesboro  TN  N/A N/A
New Haven-Milford  CT  $238,300 -1.2%
New Orleans-Metairie-Kenner  LA  $157,800 -4.0%
New York-Northern New Jersey-Long Island  NY-NJ-PA $404,100 2.8%
New York-Wayne-White Plains  NY-NJ  $470,100 4.3%
NY: Edison  NJ  $355,800 3.5%
NY: Nassau-Suffolk  NY   $385,500 0.2%
NY: Newark-Union  NJ-PA  $398,900 3.5%
Norwich-New London  CT  $206,200 -5.0%
Ocala  FL $82,200 -20.0%
Oklahoma City  OK $135,500 -6.0%
Omaha  NE-IA $138,300 0.5%
Orlando  FL $140,500 -11.0%
Palm Bay-Melbourne-Titusville  FL  $93,100 -15.0%
Pensacola-Ferry Pass-Brent  FL  $140,300 -7.5%
Peoria  IL $124,000 -1.0%
Philadelphia-Camden-Wilmington  PA-NJ-DE-MD  $231,000 1.5%
Phoenix-Mesa-Scottsdale  AZ $138,000 -3.3%
Pittsfield  MA  $203,500 1.5%
Portland-South Portland-Biddeford  ME  $227,100 12.0%
Portland-Vancouver-Beaverton  OR-WA  $242,100 -1.0%
Providence-New Bedford-Fall River  RI-MA  $230,900 0.5%
Raleigh-Cary  NC  $209,100 0.6%
Reading  PA  $153,200 -2.0%
Reno-Sparks  NV  $181,000 -5.8%
Richmond  VA  $220,600 5.9%
Riverside-San Bernardino-Ontario  CA  $190,100 13.1%
Rochester  NY $121,700 0.2%
Rockford  IL $106,900 -1.7%
Sacramento--Arden-Arcade--Roseville  CA  $185,000 -0.9%
Saginaw-Saginaw Township North  MI  N/A N/A
Saint Louis  MO-IL $135,400 -0.1%
Salem  OR  $168,100 -6.8%
Salt Lake City  UT  $215,600 -1.5%
San Antonio  TX $158,000 3.4%
San Diego-Carlsbad-San Marcos  CA  $387,600 2.5%
San Francisco-Oakland-Fremont  CA  $588,900 9.4%
San Jose-Sunnyvale-Santa Clara  CA $628,700 11.1%
Sarasota-Bradenton-Venice  FL  $166,700 -10.0%
Seattle-Tacoma-Bellevue  WA  $308,200 -4.1%
Shreveport-Bossier City  LA  $168,600 10.7%
Sioux Falls  SD $147,500 7.5%
South Bend-Mishawaka  IN $79,100 -10.6%
Spartanburg  SC  $115,500 -9.2%
Spokane  WA $181,000 1.9%
Springfield  IL $118,700 3.8%
Springfield  MA $199,700 2.2%
Springfield  MO $111,800 -1.8%
Syracuse  NY $130,000 3.8%
Tallahassee  FL $140,100 -4.0%
Tampa-St.Petersburg-Clearwater  FL $131,300 -4.4%
Toledo  OH $79,000 -10.5%
Topeka  KS $112,000 0.8%
Trenton-Ewing  NJ  $292,000 0.3%
Tucson  AZ $148,100 -14.9%
Tulsa  OK  $136,600 3.4%
Virginia Beach-Norfolk-Newport News  VA-NC  $215,000 0.0%
Washington-Arlington-Alexandria  DC-VA-MD-WV  $338,600 4.3%
Waterloo/Cedar Falls  IA $110,600 -6.4%
Wichita  KS $114,600 -4.8%
Worcester  MA $225,900 0.8%
Yakima  WA $157,300 -0.7%
Youngstown-Warren-Boardman  OH-PA  $60,400 -14.6%
U.S.   $177,900 -0.2%
NE   $253,400 2.5%
MW   $145,600 -3.0%
SO   $157,000 -1.9%
WE   $224,800 -0.4%
Note1: California prices provided by the California Association of REALTORS®
*All areas are metropolitan statistical areas (MSA) as defined by the US Office of Management and Budget as of 2004. They include the named central city and surrounding areas. N/A Not Available p Preliminary r Revised
Most current data available
© 2008 National Association of REALTORS®
Metro Area State Median Price
3Q 2010
% Change
(1-yr)
Albuquerque  NM $136,300 -2.2%
Atlanta-Sandy Springs-Marietta  GA #VALUE! N/A
Austin-Round Rock  TX $160,700 4.2%
Baltimore-Towson  MD           $210,100 2.7%
Barnstable Town  MA $244,200 4.2%
Bismarck  ND $121,300 1.9%
Boston-Cambridge-Quincy  MA-NH $308,000 4.9%
Boulder  CO     $211,300 2.1%
Bridgeport-Stamford-Norwalk  CT     $239,500 -1.0%
Cape Coral-Fort Myers  FL      $103,500 -12.0%
Chicago-Naperville-Joliet  IL  $167,300 -16.2%
Cincinnati-Middletown  OH-KY-IN  $119,800 0.1%
Cleveland-Elyria-Mentor  OH  #VALUE! N/A
Colorado Springs  CO           $133,500 3.3%
Columbus  OH    $120,900 -1.1%
Dallas-Fort Worth-Arlington  TX     $135,200 3.0%
Greensboro-High Point  NC      #VALUE! N/A
Hartford-West Hartford-East Hartford  CT  $174,200 4.8%
Honolulu  HI    $320,300 N/A
Houston-Baytown-Sugar Land  TX $119,100 -8.5%
Indianapolis  IN               $115,800 1.2%
Jacksonville  FL  $63,200 -31.0%
Knoxville  TN   $132,400 -5.4%
Las Vegas-Paradise  NV  $63,600 -5.9%
Los Angeles-Long Beach-Santa Ana  CA  $220,500 -5.2%
Louisville  KY-IN  $125,800 2.0%
Madison  WI     $162,400 9.4%
Manchester-Nashua  NH  $157,300 -4.0%
Miami-Fort Lauderdale-Miami Beach  FL  $82,900 -18.6%
Milwaukee-Waukesha-West Allis  WI  $165,400 7.1%
New Haven-Milford  CT  $158,100 -8.9%
New Orleans-Metairie-Kenner  LA  $172,200 5.6%
Norwich-New London  CT         $184,900 17.1%
New York-Wayne-White Plains  NY-NJ  $400,000 34.5%
NY: Newark-Union  NJ-PA        $298,500 5.9%
NY:Edison  NJ   $259,900 2.8%
NY:Nassau-Suffolk  NY          $236,500 5.4%
Palm Bay-Melbourne-Titusville  FL   $73,000 -32.0%
Philadelphia-Camden-Wilmington  PA-NJ-DE-MD  $187,800 1.8%
Phoenix-Mesa-Scottsdale  AZ    $73,300 -26.8%
Portland-South Portland-Biddeford  ME     $182,900 3.4%
Portland-Vancouver-Beaverton  OR-WA $175,700 -3.6%
Providence-New Bedford-Fall River  RI-MA  $202,600 8.7%
Reno-Sparks  NV  $82,400 1.4%
Richmond  VA  #VALUE! N/A
Riverside-San Bernardino-Ontario  CA  #VALUE! N/A
Rochester  NY   $119,500 2.7%
Sacramento--Arden-Arcade--Roseville  CA  $86,500 -12.2%
Salt Lake City  UT $156,500 -0.5%
San Diego-Carlsbad-San Marcos  CA  $217,700 1.2%
San Francisco-Oakland-Fremont  CA  $405,600 -6.3%
Sarasota-Bradenton-Venice  FL  $153,800 -18.0%
Springfield  MA $140,000 -9.6%
Syracuse  NY    $150,700 20.1%
Tallahassee  FL $100,000 -9.7%
Tampa-St. Petersburg-Clearwater  FL $86,500 -17.0%
Toledo  OH      $124,400 -4.6%
Trenton-Ewing  NJ              $208,600 -8.1%
Tucson  AZ      #VALUE! N/A
Virginia Beach-Norfolk-Newport News  VA-NC  $198,900 4.7%
Washington-Arlington-Alexandria  DC-VA-MD-WV  $238,900 -2.2%
Wichita  KS     $85,800 -20.7%
Worcester  MA   $173,600 6.2%
U.S.   $171,400 -3.9%
NE   $251,000 5.5%
MW   $149,700 -5.3%
SO   $116,900 -12.6%
WE   $151,700 -9.1%
*All areas are metropolitan statistical areas (MSA) as defined by the US Office of Management and Budget as of 2004.
** Boston-Cambridge-Quincy, MA-NH - Data from New Hampshire not available
They include the named central city and surrounding areas. N/A Not Available p Preliminary r Revised
© 2008 National Association of REALTORS®
State Total Sales % Change
(1-yr)
ALABAMA $63,600 -16.3%
ALASKA $16,800 -26.3%
ARIZONA $131,200 -13.7%
ARKANSAS $53,200 -15.3%
CALIFORNIA $439,600 -13.0%
COLORADO $76,400 -21.1%
CONNECTICUT $37,200 -18.4%
DELAWARE $8,800 -31.3%
District of Columbia $8,000 -9.1%
FLORIDA $350,000 -1.0%
GEORGIA $148,800 -15.8%
HAWAII $18,400 -4.2%
IDAHO $26,000 -8.5%
ILLINOIS $142,400 -24.6%
INDIANA $88,000 -15.4%
IOWA $41,200 -29.5%
KANSAS $41,600 -28.3%
KENTUCKY $58,000 -24.1%
LOUISIANA $46,400 -18.9%
MAINE $19,200 -14.3%
MARYLAND $65,200 -13.3%
MASSACHUSETTS $88,000 -19.7%
MICHIGAN $119,600 -30.1%
MINNESOTA $60,800 -37.4%
MISSISSIPPI $37,600 -11.3%
MISSOURI $74,400 -32.4%
MONTANA $17,600 -21.4%
NEBRASKA $24,400 -33.0%
NEVADA $87,200 -17.4%
NEW HAMPSHIRE $16,400 -14.6%
NEW JERSEY $101,000 -22.2%
NEW MEXICO $24,800 -24.4%
NEW YORK $195,600 -27.1%
NORTH CAROLINA $112,800 -21.2%
NORTH DAKOTA $9,200 -34.3%
OHIO $188,400 -27.0%
OKLAHOMA $58,800 -30.7%
OREGON $44,400 -21.3%
PENNSYLVANIA $135,200 -26.7%
RHODE ISLAND $12,000 -25.0%
SOUTH CAROLINA $58,800 -19.7%
SOUTH DAKOTA $12,000 -31.8%
TENNESSEE $83,200 -23.2%
TEXAS $358,400 -20.8%
UTAH $22,000 -29.5%
VERMONT $8,000 -28.6%
VIRGINIA $103,200 -17.0%
WASHINGTON $68,400 -18.6%
WEST VIRGINIA $24,400 -15.3%
WISCONSIN $61,600 -32.5%
WYOMING $7,200 -25.0%
United States $4,163,000 -21.2%
Northeast $693,000 -24.4%
Midwest $860,000 -28.9%
South $1,637,000 -16.4%
West $973,000 -18.2%
N/A Not Available r Revised p Preliminary
© 2008 National Association of REALTORS®
Note: State will not add up to national/regional totals due to independent samples.

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