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At The Mercy Of A Mean, Bottom-Feeding Market
Posted on May 24, 2008
TC Palm reports from Florida. Sales of existing single-family homes and condominiums in the region increased in April, a report from the Florida Association of Realtors showed Friday. However, home prices in the Fort Pierce-Port St. Lucie metropolitan statistical area dropped 34 percent to $159,200 in April, down from $242,600 the prior year. The last time prices were this low was during September 2003, when the median price was $154,100. This is stating the obvious, but the overheated housing market caused escalation in the pricing and market value of homes that was just not sustai...
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