Sales of existing homes edged down in December, bringing the 1989 total to 3.43 million units, or 4.6 percent less than the previous year's sales, a real estate trade group reported today.
The National Association of Realtors said December sales totaled a seasonally adjusted annual rate of 3.55 million units, down 1.1 percent from 3.59 million units in November.
For the year, sales were down from the 1988 total of 3.59 million units, which the realtors said was the strongest year of the decade.
The national median price for existing single-family homes in December was $92,500, 4.3 percent above the December 1988 median of $88,700. The median price for the year was $93,100, also up 4.3 percent from 1988.