Written by 1:22 PM General Views: 30

U.S. Home Prices Down – First Time in 10 Years

In August, U.S. existing home prices dropped for the first time in 10 years to a median value of $225,000.  It looks like this may be the first of many corrections to come because the backlog of unsold homes is the highest since April 1993.  (Source:  New York Times)

This is not "news" since the stats were released in September, but we’ll document it here so we can compare what happens in the next 3-6 months.

Visited 30 times, 1 visit(s) today

Last modified: October 17, 2006

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.

Close