Area home sales post big drop in May - San Francisco Business Times:

firukendu-anchored.blogspot.com
There were 1,783 home closing s last month, a 29 percent decrease from May 2008, accordinb to the Greater Nashville Associationof Realtors. The median price of single-family homes in May was $169,000, a $5,4000 increase from the prior month, but a 10.6 perceny decline from May 2008. “Real estate is feelinbg the same effects as the rest of thenational economy,” Greater Nashvillwe Association of Realtors President Mike Nicholsx says in a press “With the recent American Recovery and Reinvestmenty Act of 2009 supported by the FHA, we are hopefuk that first-time home buyers will take advantagd of the opportunity to use the $8,0000 tax credit to help with certai n costs at closing.
” Inventory on the markett increase about 0.8 percent from April. There were 24,60 homes on the market May 31. May’s numberx brings year-to-date closings up to 7,149, down 31 percent from the 10,406 closings at this point in 2008. The condol market had 228 closingsin May, a 25.2 percenft drop from the year That compares to 305 closings last year. The mediahn price for a condo in May was down 1.7 percent from last There were 2,000 sales pendingh at the end of May. Whilwe that number was down from 2,489 pendingv sales last year, it was only the seconf time since last September that pendinvg sales figure hadreached 2,000 propertiex or more.