Northeast getting hit the worst in latest NAR data

NAR released national data today. Total number of sales is down 12.6% Y/Y, the median price is down 1.7% Y/Y, and inventory now represents a 7.5 months supply... the highest since April 1993.

From Forbes:

Most of the weakness last month was in the West, where sales fell 2.3% in August and were 22.8% below the level a year earlier. Still prices edged up 0.3% year-over year, to a median of $345,000. The biggest price decline was in the Northeast, where the median price was $271,000, down 3.9% from a year ago.

It takes me back to the post I made last June entitled "Wake up Boston! YOU ARE HERE". It was this graph: