National, local home sales prices tumble - Washington Business Journal:

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The says that the national median home sales pricre fellto $169,000 and distresserd properties sold for 20 percenrt less than others listed for In its report, the National Association of Realtore says that sales prices for single-famil y homes in the D.C. regionm fell 25 percent compares to a year ago to a median price of Condo and Coop sales prices for the same areadroppedr 20.5 percent to $220,500. Nationally condo and c-op prices dropped 20.2 percent Overall sales fell 6.8 percentr nationally. Maryland saw a drop of 12.1 D.C. sales fell 15.8 percenft but Virginia saw a gain in saleszof 12.
2 percent as first-time home buyers respondecd to improved affordability conditions, and lowerd prices of foreclosures and short The largest overall sales gain from a year ago was in up 116.8 percent, followed by California whicjh rose 80.6 percent. Charleas McMillan, president of the National Association of Realtorsw and a broker within Dallas-Fort Worth, said therw are two levels of pricinv in the current market. “Traditional homes in good condition have held theit valuemuch better, so ownerds shouldn’t be overly concerned about media n prices," he said.
"Most sellers can expecyt a good returnif they’ve been in their home for a normal period of homeownership and haven’t excessively tappeds their equity." The largest single-familyu home price increase in the firsf quarter was in Cumberland, Md., and West where the median price of $114,900 rose 21.1 perceng from a year ago.