WSU research: State home sales decline 4 percent

PULLMAN, Wash. – The Washington Center for Real Estate Research at Washington State University reports home sales and prices declined in the second quarter statewide.

The center reports sales declined 4 percent to 85,000 units, compared to the first quarter. It's 11 percent below the sales rate a year ago.

The median sales price during the first quarter was down nearly 8 percent to about $227,000, compared to a year ago. Prices have declined for the last 14 quarters, with the statewide median now below the first quarter 2005.

The center said Wednesday the bright side to falling prices is that more homes are affordable.