Single Family Home Sales Trends Across Metropolitan Areas, August 2009
Miami/Ft. Lauderdale was by far the top sales market with August 2009 single family home sales up 52.2% compared to August 2008. However, this was also the market where median single-family home prices registered the second largest annual drop (-23.6%, from 287,300 to 219,400) among the 20 markets covered by the data. The second best performing metropolitan area was Phoenix, where single-family home sales were up 20.2% on an annual basis. However, this was also the market where median single-family home prices registered the largest annual drop (-26.4%, from 189,600 to 139,600). Indianapolis was the worst performing market in terms of sales but also the best performing market in terms of prices. In particular, single-family home sales in Indianapolis decreased 25.5% compared to their August 2008 level, while median prices posted an annual gain of 3.5%. Dallas and Houston were the second and third worst performing markets in terms of demand, as single-family home sales dropped by 11.8% and 10.3%, respectively, compared to their August 2008 levels. However, Houston was also the second best performing market in terms of prices, which posted an annual gain of 0.9%. Median single-family home prices posted annual losses in all the markets covered by the NAR data but Indianapolis and Houston.
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