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14% Decline in Home Prices!

by | May 14, 2009 | houses, prices

14% Decline in Home Prices!

The National Association of Realtors reported median home prices fell 14% year over year. This is a cumulative 26% decline from the peak in the third quarter of 2005. It has been nearly three-and-a-half years since the 2005 peak in prices. Are we finally close to a bottom in price declines?