As the housing slump drags on, Triangle home sellers are lowering expectations and prices. And buyers, buoyed by low mortgage rates and new tax incentives, are starting to respond. It's a subtle crack in a frozen local housing market, where 13,393 unsold homes still await buyers. ...
The average price of new and resold homes sold in April was $216,000, down 9 percent. The average price of resold homes in April was $198,000, down 8 percent. They were the biggest year-over-year declines in at least eight years.
Source: Housing Market Loosens
