Existing home sales fell 2 percent in March - Real estate- msnbc.com

Existing home sales fell 2 percent in March - Real estate- msnbc.com

WASHINGTON - Sales of existing homes fell in March as a severe slump in housing showed no signs of abating. The median price of a home fell compared with the price a year ago.

The National Association of Realtors said sales of existing single-family homes and condominiums dropped by 2 percent in March to a seasonally adjusted annual rate of 4.93 million units.

The median price of a home sold last month was $200,700, a decline of 7.7 percent from the median price a year ago. That was the second-biggest year-over-year price decline following a record 8.4 percent drop in February. The records go back to 1999.

Foreclosures in Nashville Up 6.9% Quarter to Quarter.

While the report below from Southeast Title of Tennessee, Inc. reports a 20.6% increase in foreclosures for the Nashville MSA, the numbers for Davidson County show an increase of 6.9%. It is my opinion that this is showing that Nashville is weathering the sub-prime crisis much better that the balance of the country.

Tuesday, April 15, 2008

PRESS RELEASE

Foreclosure Index

Nashville, Tennessee

Subject: Foreclosure Sales – Nashville/Davidson County Metropolitan Statistical Area

For the 1^st quarter of ’08, actual foreclosure sales in the Nashville MSA increased 20.6% year over year to 743 compared to 616 in 2007. Wilson County led the pack with a whopping 166% increase. Surprisingly affluent Williamson County was right behind with a 150% increase. Davidson County increased only 6.9 % for the same period while foreclosure sales in Cheatham County actually decreased by 13.3%.

The County by County breakdown is as follows:

County:	1q ‘08	1q ‘07	+/-	% change
Cheatham	13	15	-2	-13.3%
Davidson	509	476	+33	6.9%
Dickson	17	11	+6	54.5%
Robertson	26	21	+5	23.8%
Rutherford	84	56	+25	50%
Wilson	24	9	+15	166%
Williamson	70	28	+42	150%

The preceeding information has been compiled by Southeast Title of Tennessee, Inc., Brentwood, Tennessee and is based on the actual recordings of foreclosure deeds in the register of deeds offices for the 7 counties encompassing the Nashville/Davidson County Metropolitan Statistical Area.

Tax Day Thought

I noticed today if you put THE in front of IRS you get a clear understanding of how they see your money.