Associated Press - February 14, 2008 10:43 AM ET
WASHINGTON (AP) - A real estate trade group says sales of previously-owned homes fell in 46 states in the fourth quarter of 2007. The National Association of Realtors says metropolitan areas had growing weakness.
The report shows the breadth of the housing market's slump.
South Dakota was the lone state with a sales increase. Existing home sales there rose 8.9% from the year-earlier quarter. Sales were flat in North Dakota. Figures were not available for Idaho, Indiana and New Hampshire.
Median home prices fell in more than half of the 150 metropolitan areas surveyed. Out of the 77 that experienced declines, 16 showed a double-digit percentage drop.
The biggest price declines were in Lansing, Michigan, Sacramento, California and Jackson, Mississippi.
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