The latest report from the National Association of Realtors shows that in the South, existing-home sales fell 3.5 percent to an annual rate of 1.92 million in March and are 20.0 percent below March 2007.
The median price in the South was $167,200, down 7.1 percent from a year ago.
But not every city in the Southern region is seeing a fall. Julia Luo of Richardson Texas is reporting that desired locations such as Plano and Richardson are selling well.
She says that investors in her area are still very active and that now is a great time for buyers.
That seems to be a theme in much of the country -- where buyers market abound.
And Lawrence Yun, N.A.R chief economist, said the market is performing unevenly, with many buyers continuing to bide their time with a large number of homes to choose from, while other potential buyers remain on the sidelines.
Looking at regions on a whole, sales rose in the Northeast and West, and fell in the Midwest and South. Another of our market experts, Rosa Hands, is reporting that in South Padres Island, Texas -- its a strong buyers market -- with the strongest segment being between 3 and $500,000. And that plans to add a golf course and high rise condos on the north side of the island are bringing more opportunities.
So while some areas in the Southern region continue to show promising signs -- certain cities with downward trends have put their market on the region.