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Updated: 11:26 a.m. Wednesday, Feb. 23, 2011 | Posted: 11:25 a.m. Wednesday, Feb. 23, 2011

Single-family home sales, prices fall in Miami Valley

By Tim Tresslar

Staff Writer

DAYTON — Single-family home sales in the area fell nearly 1 percent in January, while prices also declined, according to the Dayton Area Board of Realtors.

Total homes sold in the areas tracked by the DABR slipped to 554 last month, versus 559 in January 2010, the organization said.

The average sales price for a home fell to $101,876 in January, compared with $111,719 during the year-ago month, DABR officials said. At the same time, the median price — half sold for more, half sold for less, dropped 12.7 percent to $78,500 last month from $90,000 during January 2010.

DABR president Bob Wilson in a statement said prices in January and February usually are the lowest of the year.

“Sales prices are historically lower during slower, bad weather months and with school in session,” Wilson said. “Increases usually are seen in the spring, when families begin looking again and traffic through available homes picks up.”

Residential listings also fell 10 percent during the month.

Across the nation, more people bought previously occupied homes in January, but sales surged on a rising number of foreclosures and all-cash deals.

The National Association of Realtors say sales of previously occupied homes rose slightly last month to a seasonally adjusted annual rate of 5.36 million. That’s up 2.7 percent from 5.22 million in December.

The pace is still far below the 6 million homes per year that economists say represents a healthy market.

Foreclosures represented 37 percent of sales in January. And all-cash transactions accounted for 32 percent of home sales — double the rate from two years ago when the trade group began tracking these deals. In places like Las Vegas and Miami, cash deals represented half of all sales.

This report contains information from the Associated Press.


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