In the third quarter of 2008, the S&P/Case-Shiller home-price index fell 17.4% from the same period in 2007.
Although the National Association of Realtors reported the Pending Home Sales Index was relatively stable in 2008, it dipped slightly from 2007.
NAR also reported the median home sales price in the U.S. fell 9% in the third quarter of 2008 from same quarter in 2007. In Sacramento, where I work, the median sales price fell more than 36% from the same time in 2008.
