House sales plunge in October

November 24, 2008
Declines in house sales continued in October, the Metropolitan Indianapolis Board of Realtors reported yesterday.

Units sold in the 13 counties tracked by the trade group plummeted 24 percent, to 1,726, from last October. The median sale price fell 3 percent, to $115,000.

All 13 counties showed declines in unit sales. Sale prices were not disclosed at the county level.

The picture doesn't look quite so bleak when the past three months are taken into consideration. Unit sales fell 12 percent, to 6,481, and the median sale price dipped 5 percent, to $116,000, from last year's third quarter.

MIBOR emphasized that the nation performed far worse in the past three months, with the median sale price falling 9 percent, nearly twice as much as in the Indianapolis area.

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