There were 2,591 homes sold in the month of June, which is down 27.8% compared to the 3,588 closings reported for June of 2007.
Second-quarter closings are also down, with 7,234 sales reported. that is a 28.2% decrease compared to the second quarter of 2007.
Year-to-date closings are also down 28%, with 12,997 sales reported so far in 2008, compared with 18,070 reported through mid-year 2007.
The median price for a single-family home during June was $183,615 and for a condominium is was $185,500. This marks the first time that the median price of a condo exceeded that of a single-family home. Last year’s median prices for June were $196,000 for single-family and $155,800 for condominiums.