June new and existing home sales fell off 9 percent year-over-year in the Midwest, a surprisingly strong number according to a Colorado-based real estate analyst.
That number almost equals the 9.1 percent decline nationwide, said Steve Murray, editor of Real Trends, in a news release. That’s a positive sign, Murray said, since June 2010 figures were inflated by the final month of sales that included federal homebuyer tax credits.
“ ... housing sales show surprising strength considering the tough economic climate and comparisons to year ago sales that were significantly boosted by the 2010 tax credit program,” Murray said.
Nationally, June marked the first in several months that average home prices declined, down a percentage point from a year ago.