In the second half, the national median sales price was off 8.2%, dropping to $379,000.
In a homebuying world that’s become unaffordable for many Americans – no less most Californians – it’s good news for house hunters when home prices decline.
In the second half of the year, the national median sales price was off 8.2%, dropping to $379,000. The worst performance nationwide was a 21.9% drop in the formerly red-hot market of Austin, Texas. San Francisco was next , then Boulder, Colo. , San Jose and Spokane, Wash., . That ballooned the monthly payment for a typical U.S. buyer by 58% in a year, by the association’s math. So homebuying became unaffordable for a growing swath of the house-hunting crowd.
Sadly, I fear, too much emphasis is put on ownership’s investment potential. So, talking up price cuts might scare away folks looking at a home’s wealth-creation prospects.
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