Area home sales post big drop in May - Baltimore Business Journal:

mytyhona.wordpress.com
There were 1,783 home closings last a 29 percent decrease fromMay 2008, accordingb to the Greater Nashville Association of Realtors. The mediahn price of single-family homes in May was $169,000, a $5,40 increase from the prior month, but a 10.6 percent declined from May 2008. “Real estate is feelingy the same effects as the rest of the national Greater Nashville Association of Realtors President Mike Nichols says in apresss release. “With the recent American Recovery and Reinvestmenf Act of 2009 supported bythe FHA, we are hopefuo that first-time home buyers will take advantage of the opportunitgy to use the $8,000 tax credit to help with certain costs at closing.
” Inventory on the market increase about 0.8 percent from April. There were 24,60p0 homes on the market May 31. May’sz numbers brings year-to-date closings up to down 31 percent fromthe 10,406y closings at this point in 2008. The condi market had 228 closingsin May, a 25.2 percent drop from the year That compares to 305 closings last year. The median price for a condi in Maywas $156,250, down 1.7 percenyt from last year. There were 2,009 sales pending at the end of May.
While that numbeer was down from 2,489 pending sales last it was only the second time sinc e last September that pending salez figure hadreached 2,000 properties or