Median Home Price Nearly Unchanged in Quarter

Washington, DC, Nov. 12, 2010 -- Home prices fell in nearly half of U.S. metropolitan areas in the third quarter, according to the National Association of Realtors.

The median price for home resales fell compared with last year in 76 out of 155 areas tracked by NAR. Prices rose in 77 areas and were unchanged in two.

The national median price for single-family homes, however, was nearly unchanged. It was $177,900 in the July-September quarter, down 0.2% from a year earlier.

Home sales in the third quarter were down 25% from the second quarter, and down 21% from a year earlier, NAR said.

"Prices this year have been changing very little from year-ago readings," said Lawrence Yun, the Realtors' chief economist, in a press release.