Home sales rose in only six states, while distressed sales, including foreclosures and short sales, accounted for 45 percent of all transactions during the fourth quarter.
Nevada led all states with an increase in sales of 133.7 percent in the fourth quarter from a year ago. California, Arizona and Florida followed with sales gains of 84.7 percent, 42.6 percent, and 12.5 percent, respectively. These were also the states that had the steepest declines in single-family home prices during the housing market downturn. 
The national median price of existing single-family homes was $180,100, down 12.4 percent from the median price in the fourth quarter of 2007.
The most affordable metro area was Saginaw, Mich., where the median home price was $43,900. The least affordable place was Honolulu, with a median home price of $610,000.
For our Local New Bern area market, the chart shows the number of homes Sold from January 1, 2009 thru Feb. 18, 2009, compared to the same time-frame in 2008.
The Good News is, . . . while the number of home sales fell from 152 to 94, the median price range has managed to squeek out a modest appreciation!
So, if you're considering a move, a second home or an investment property, this is a great time to buy! The interest rates are still at all-time lows, and we have a nice inventory to select from!
Dianne Dunn
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