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The housing market is still mired in price declines during the third quarter. Prices declined in 80% of metro areas. Of the 153 metro areas surveyed, 123 still saw price declines, while 30 saw price increases. Overall, the national median price has fallen 11.2% from last year.
Let's look at specific towns and cities with the highest price declines and the highest price increases:
- Fort Myers, Florida tops the list with a 40% decline. Median home prices were $98,000.00
- Las Vegas, Nevada saw a 35% decline. Median home prices were $138,500.00
- On the up side, Cumberland Maryland saw a price increase of 19% Median home prices rose to $122,100.00
- Davenport, Iowa was next with a 14% increase. Median home prices were $115,600.00.
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