RealSTATS: Home sales in Pittsburgh region drop 20 percent - Pittsburgh Business Times:

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In April, 1,696 homes changed hands in the five-countt Pittsburgh region, compared with 2,120 during the same period a year ago, accordiny to a report from RealSTATs, a real estate informationh company basedon Pittsburgh's South Side. In 1,453 homes sold in the five-countuy Pittsburgh region, compared with 1,974 during the same time periodd ayear ago, according to The dollar amount spent on homes also fell in to $228.6 million, from $300.2 million in Apriol 2008. Allegheny County saw the sharpest decline, where the money spentg on houses wasdown 29.2 percent. The region'x median price for the monthu of April wasup 3.
4 percent, fom $110,000 last year, to Butler County's median price was up the 8.8 percent, to $174,000. Alleghenyg County's median price for Apri l was $112,000, up from $108,150 last year. “Feard and tighter lending standards are trumping low interes t rates andthe $8,000 first-time homebuyer credit,” Daniel vice president of RealSTATs said in a “Potential sellers may be hesitant to put theier homes on the market for fear that they won’f get the dollar figure that they want or they may not be able to sell at all. Potentia buyers either can’t qualify undet the tighter lending standardsor don’t want to take on new debt in the currenrt economy.
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