A record decline in U.S. home prices in August attracted more buyers in some areas and led to a sizable decline in the number of unsold homes on the market, the National Association of Realtors said yesterday.
The median sales price fell 9.5 percent to $203,100, the largest decline since record-keeping began in 1999. As prices fall, buyers are taking advantage of steep discounts, especially in hard-hit markets such as California, Nevada and Florida.
“Time and price are the real cures for the housing-market slump,” said Mike Larson, an analyst at Weiss Research.
Prices, sales and the number of homes for sale also declined in central Ohio and the rest of the state.
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