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Home Sale Prices

Last Updated 2012

After two years of sharp drops in 2008 and 2009 and one year of stabilized prices in 2010, the home sale prices went down again by 3% between 2010 and the first half of 2011. With inflation adjustment, it had reached the lowest since 2001, 27% lower than the peak in 2005. Meanwhile, median household income stagnated between 2000 and 2010. As to the number of homes sold, after the peak in 2004 and three years of decline, it stayed stagnant for another three years from 2008 to 2010. The first half of 2011, however, suggests fewer homes sold this year, as the number for the first half year was only about 40% of that in 2010.