ShareThis Page
Politics

Pittsburgh-area home sales fall 20 percent in April

| Friday, June 5, 2009

Homes sales during April within the five-county Pittsburgh Metropolitan area dropped 20 percent from a year ago, the real estate information firm RealStats reported.

The sharpest year-over-year decrease was recorded in Butler and Allegheny counties, down 27.5 percent and 24.1 percent, respectively.

A total of 1,696 homes exchanged hands in the region in April, compared with 2,120 homes in April 2008, and 2,448 in April 2007, according to South Side-based RealStats.

"Fear and tighter lending standards are trumping low interest rates and the $8,000 first-time homebuyer credit," said Daniel Murrer, RealStats vice president, in a statement.

"Potential sellers may be hesitant to put their homes on the market for fear that they won't get the real dollar figure they want, or they may not be able to sell at all."

Money spent on homes this past April fell $71.6 million, to $228.6 million from $300.2 million in April 2008. The sharpest decline was found in Allegheny County, where money spent on homes dropped 29.2 percent, to $129 million from $182.2 million one year earlier.

Despite fewer homes sold, the median price in April rose 3.4 percent, to $113,750 from $110,000 in April 2008. Allegheny County's median increased 3.6 percent, to $112,000 from $108,000, RealStats reported.

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.

click me