The median price of existing homes in the U.S. dropped by 1.8% during 2007. This is the first time it has declined in the 40 years data has been kept and likely ever since the Great Depression of the 1930s. See NAR table of cities: msapricesf.pdf
Dec. 2007 data: http://bp1.blogger.com/_ym8Q9yxUg34/R5i9pD2bdCI/AAAAAAAAB7c/67o8VtsVV34/s1600-h/ehs1207rollup.JPG
Click to Bloomberg: http://bloomberg.com/apps/news?pid=20601087&sid=aDBJGL77XCI0&refer=home
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