Sales of previously-owned homes in South still flat

MIAMI - Sales of previously owned homes were flat in the South last month, the third straight month the region avoided annual sales declines as consumers took advantage of low interest rates and the first-time homebuyer tax credit.

The median price of a resold home, however, fell 11 percent from August last year to $157,400, evidence that foreclosure sales are still holding down home values, the National Association of Realtors said Thursday. Still, prices in the South have risen since January, when the median was $143,300.

http://accesswdun.com/article/2009/9/223518