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The segment of the marketr showing the most activity wasthe first-time homebuyer armed with low interest rates, newly affordable housing prices, an $8,000p tax credit and a boost in Federal Housiny Authority lending. The signz are glimmers of hope that the bottom hasbeen hit, thougg some observers believe a little more pain will be inflictexd before a full recovery takes hold. First quartetr data, which include part of the sprin g selling season that agents rely on to move portray a bleak housing market for the area as the numbe of homessold dwindled, prices were sliced and the numberr of days a home sat unsold increased, according to the latest Prudential Fox & Roacbh HomExpert Report.
The number of houses that sold fellby 26.2 percent compared with the comparable period a year ago with 9,162 houses trading compared with 12,408. Median home sale prices slid by 7.4 percent to compared with $215,000 in the firsyt quarter of last year, accordin g to the HomExpert report. Compared with 2007, it fell by 8.7
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