The National Association of Realtors released the existing home sales figures for March 2009 yesterday. Sales decreased to a seasonally adjusted annual rate of 4.570 million units in March down from 4.710 million units in February and down from 4.920 million units in March 2008.
The median sales price was $175,200 for March up from $168,200 in February (up 4.16%) but down from $200,100 in March 2008 (down 12.4%). Months supply was 9.8 in March, up from 9.7 in February. According to the NAR, distressed properties accounted for just over half of all transactions in March and are selling for 20 percent less than traditional homes.
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