Good News And Bad News

January 27th, 2009

The good news? Existing home sales rose.

The bad news? Existing home values suck.

The pace of sales of existing homes in the U.S. rose 6.5 percent in December, but the median home price dropped by a record 15.3 percent compared to the same period the year earlier, a National Association of Realtors report showed on Monday.

I wonder how much of the sales were related to foreclosure sales? Do those figure into these numbers?

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