Toledo home sale prices dropped 2.8 percent in September compared with a year earlier, primarily because of short sales and bank-owned home sales, a new national study shows.
Excluding the “distressed sales,” home prices in Toledo rose 0.5 percent in September from the same month a year earlier, according to California real-estate data firm CoreLogic Inc. The study released Monday found prices dropped nationally 4.1 percent in September from a year ago, though they would have dropped 1.1 percent if the short sales and bank-owned sales were excluded.
Overall, prices dropped 6 percent in Ohio and 3.7 percent in Michigan in September compared with a year earlier, the study found. Excluding the distressed sales, prices were flat in Ohio and were down 4.8 percent in Michigan, fourth worst in the nation.
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