Peak to Trough:
The U.S. median home price tumbled 29 percent over three and a half years as defaults among subprime borrowers flooded the housing market with cheaply priced foreclosures and Wall Street piled up $1.78 trillion in losses and asset writedowns.
The median prices of an existing U.S. home peaked at $230,300 in July of 2006 and hit a low of $164,600 in February 2010, according to NAR data. The drop was 13 percent in 2009, outpacing 2008’s 9.5 percent decline.
The median price of a single-family home in the New York metropolitan area rose 1.8 percent to $380,400 in the three months ended March 31, 2010. The areas surrounding New Haven and Milford, Connecticut, gained 5.3 percent to $227,900.
The Edison, New Jersey, region had a 1.5 percent gain in the median price; and Hartford, Connecticut, posted a 1.6 percent increase to $225,900. Prices in the Boston metropolitan area increased 11 percent to $321,800.
