US Condominium Prices Posted a Yearly Drop of Less than 5% in November 2009
Average US condominium prices posted a yearly drop of less than 5% in November 2009, according to latest data released by the National Association of Realtors (NAR).
In particular, the average US condo/co-op price decreased to $213,700 in November 2009, representing a year-over-year drop of 4.7%.
Yearly trends in US condominium prices varied widely across regions in terms of magnitude. The Midwest was the worst performing region in November 2009 as the average condo/co-op price posted a yearly drop of -9.1%. The South was the second worst performing region as the average condo/co-op price posted a yearly drop of -7.8%.
In November 2009, US condominium prices in the West and Northeast posted year-over-year declines of -5.2% and -1.0%, respectively.
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