June 10th, 2009 by Reed Allmand 
According to an article in the Dallas-Morning News, pre-owned home sales have fallen 24 percent in May compared to the same period last year. Real estate agents have sole less than 6,000 single-family homes in May, which is the lowest sales total for May since 2000.
The article said:
Through the first five months of 2009, pre-owned, single-family home sales in North Texas have fallen by 24 percent from the same period of last year, and condo sales are off 33 percent.
Median home sales prices have dropped by 4 percent so far this year to $139,500, according to the latest data.
As foreclosures rise and access to credit declines many potential homebuyers are foregoing homeownership at least in the interim. Many Texans are facing job losses or fear facing job losses aren’t just avoiding homeownership, they’re also avoiding many other major purchases such as a new care. The number of job losses hitting this country is increasing rapidly and we can expect to experience more drops in home sales as Americans tighten their belts.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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