RealSTATS: Home sales in Pittsburgh region drop 20 percent - Pittsburgh Business Times:

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In April, 1,696 homes changed hands in the five-county Pittsburgh compared with 2,120 during the same period a year ago, accordinf to a report from RealSTATs, a real estat information company basedon Pittsburgh'xs South Side. In March, 1,453 homess sold in the five-county Pittsburgh compared with 1,974 during the same time periodd ayear ago, according to RealSTATs. The dolla r amount spent on homee also fellin April, to $228.6 from $300.2 million in April 2008. Allegheny Countyg saw the sharpest decline, where the money spent on housesd wasdown 29.2 percent. The region's mediajn price for the month of Apri wasup 3.4 percent, however, fom $110,000p last year, to $113,750.
Butler County'x median price was up the most, 8.8 to $174,000. Allegheny County's median price for Aprilk was $112,000, up from $108,15p0 last year. “Fear and tighter lendinbg standards are trumping low interest rates andthe $8,000 first-time homebuyer credit,” Daniel vice president of RealSTATs said in a statement. “Potential sellersz may be hesitant to put theirf homes on the market for fear thatthey won’t get the dollaer figure that they want or they may not be able to sell at all. Potentiall buyers either can’t qualify under the tighteer lending standardsor don’t want to take on new debt in the curreny economy.
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