Home Prices Falling at Record Rate

Compared with last year at this time, home prices have fallen by a record 9 percent.

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  • $200,500: National median price of a single-family home in the third quarter of 2008
  • $220,300: Median price a year ago
  • 9 percent : Decrease in national median price of a single-family home compared with third quarter of 2007
  • $65,800: Median price of a single-family home in Saginaw, Mich., down 22.5 percent year-over-year
  • $650,000: Median price of a single-family home in the San Jose, Calif., metro area, down 23.5 percent year-over-year
  • $210,800: National median price of existing condos, down 7.1 percent from $227,000 in the third quarter of 2007

Source: National Association of Realtors