HTN: Home Sales Down but Prices Up

Home prices in Erie and Niagara Counties slipped by three-percent in December when compared to the same month in 2007. The number of homes sold declined by 15-percent when comparing December of 2007 and 2008. For the year as a whole, 2008 saw the number of homes sold drop by eight-percent, but average home prices were still up by four-percent. The states come from the Buffalo Niagara Association of Realtors.