Home prices nose dive

We put our offer in at the end of January. The home had already been marked down $40,000 from its initial offering and we offered significantly less. On top of that, we asked for and received another $1500+ worth of add-ons.

Point is, if you're selling, the market is rough.

US home prices drop 11.4 pct in January

NEW YORK - A widely watched index of U.S. home prices fell 11.4 percent in January, its steepest drop since data for the indicator was first collected in 1987.
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Washington, D.C., and Minneapolis both slipped into negative double-digit territory for the first time in January, recording 10.9 percent and 10 percent drops compared to last year.