Home Prices Down Nationally

Yahoo News and the AP report that home prices fell in eight out of ten cities across the nation in the third quarter of 2009. The national median price is right around $177,900 the article reports, which is a mere 11% below the same quarter last year.But it’s not all doom and gloom around the Northwest. Homes sales have increased over second quarter of 2009 and the sales price has increased over 2.5% over the same time last year (2008) according to the Olympian.The Northwest has always stood alone, *typically* we aren’t affected (or for the sake of arguement, we aren’t affected with the same severity) as the rest of the country.Even more locally speaking, as of the month of October, the median home price in Spokane Washington was $170,000 (down about 8.1% from 2008). The most astonishing (and powerful) statement is looking at “New Home Sales” down an amazing 34.9% YTD over 2008!Homes are still selling! Over 3,800 year to date.Full list of Nation Wide Median Home Prices, you may be surprised.