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 January 31, 2009

National Home Sales Revealed
In the last month of 2008, home sales, in the United States, fell nearly fifteen percent to a low that has never been seen before. Overall, the year had almost a thirty-eight percent drop in home sales.
In 2007, there were more than 775,000 new homes sold for the year. That number dropped to just over 480,000 new homes sold in 2008. The median price dropped six percent to a level last seen in 2003.

On a positive note, inventory of new homes fell more than ten percent and also dropped to a low last seen in 2003. These numbers reflect national sales and do not summarize the San Diego real estate market. It has recently been reported that the San Diego housing market has turned the corner and is already beginning the recover process.