Home Prices are Favoring Buyers In Most Areas - Part 4

By
Real Estate Agent with Keller Williams Preferred Realty

Below is the last page of the article written by The National Realty News on May 15, 2007.

Total existing-home sales in the South were at an annual rate of 2.51 million units in the first quarter, down 7.3 percent from the first quarter of 2006. After the District of Columbia, the next strongest increase in the South was in Arkansas, up 8.8 percent from a year ago, followed by Kentucky, which rose 3.9 percent, and Texas, up 2.7 percent.

The median existing single-family home price in the South was $177,800 in the first quarter, which is 0.6 percent below a year earlier. After the Cumberland, Beaumont-Port Arthur and Gulfport-Biloxi areas, the strongest increase in the South was in the Oklahoma City area at $134,400, up 12.1 percent from a year ago, followed by the San Antonio area with an 11.2 percent gain to $148,300, and Baton Rouge, La., at $169,400, up 9.7 percent.

In the West, the existing-home sales pace of 1.28 million units fell 11.9 percent from the first quarter of 2006. After Wyoming, the best performance in the region was in Colorado where sales rose 0.8 percent from a year earlier.

The median existing single-family home price in the West was $336,200 in the first quarter, down 1.8 percent from a year ago. The strongest increase in the West was in the Salem, Ore., area, at $221,600, up 15.6 percent from the first quarter of 2006, followed by the Albuquerque area, at $193,700, up 12.7 percent, and the Salt Lake City at $206,900, up 12.3 percent from a year ago.

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