Home prices are dropping: How far are they falling?

By Clare Trapasso | Realtor.com

Home buyers pinching their pennies should rejoice: Existing-home prices are continuing to drop. Sorry, sellers!

The median price of an existing home (i.e. one that has previously been lived in) fell 0.24% from September to hit $247,000 in October, according to the most recent National Association of Realtors® report. And as cash-strapped would-be buyers are well aware, every little bit helps.

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