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Chart of the Day
For some perspective into the all-important US real estate market, today's chart illustrates the US median price of a single-family home over the past 38 years. Thanks, in part, to low long-term interest rates, the trend from 1991 to 2005 was impressive. Not only did housing prices increase at a rapid rate, the rate at which housing prices increased - increased. That brings us to today's chart which illustrates how housing prices have dropped well below their accelerated upward trend. In fact, nearly half (48.9%) of the 1991 to 2005 gains have been erased in slightly less than three years.
Notes:
- Will housing prices drop further? The answer may surprise you. Find out with the exclusive charts of Chart of the Day Plus.
Source - National Association of Realtors
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Quote of the Day
"It's not the strongest of species that survive, nor the most intelligent, but the one most responsive to change." - Charles Darwin
Events of the Day
March 01, 2008 - Iditarod begins
March 09, 2008 - Daylight Saving Time begins (US)
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