There were almost 4.5 million homes sold nationally in January of 2009.  Nationally, we see 4,490,000 homes sold in the first month of 2009.  This is down 8.6 percent from January 2008 sales, which were 4,910,000.

January sales were also down 5.3 percent from December 2008.  This is the second highest drop seen in the past 12 month period, with November 2008’s drop of 8.1 percent being the worst.

The national average home price also fell in January to $170,300.  This is not only down 3.1 percent from December, but also down 14.8 percent from January 2008.  Prices fell every month since July 2008, as seen below.

The average drop in 2008 was 0.7 percent.  This would be worse if not tempered by the marginal gains seen from March to July.