realtors report drop in existing home sales

Realtors report drop in existing home sales
Existing-home sales and prices dropped in November compared to the same month last year, the National Association of Realtors
The median price of existing homes dropped for the fourth consecutive month to $218,000, down 3.1 percent compared to November 2005. The average price of existing homes, at $266,000 in November, fell 1.8 percent compared to the same month last year.
Existing-home sales in the Midwest were unchanged in November, holding at a level of 1.42 million, and were 9.6 percent lower than November 2005. The median price in the Midwest was $165,000, which is 3.5 percent below a year ago. more from NAR