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Residential Real Estate

In July 2005, homes in the U.S. sold for a median price of $227,800.  Most recent data from the National Association of Realtors reveals that homes sold for around $170,200 median price.  This is a 25% decline.

The inventory of homes in November 2006 reflected 7.2 months of supply.  Recently that inventory has risen to 10.2 months or over a 40% increase.

Farmland is being affected by the current economy.  For the first time in 21 years, the value of U.S. farm real estate fell.  The national average price of farm real estate (includes land and buildings) declined 3.2% in 2009 from last year.

Source:  August 6, 2009, Casey’s Daily Dispatch.

August 8, 2009 - Posted by Bill Wyler | Economy