Resiliency in the Midwest Market?

Today's economic information showed that the number of existing home sales decreased 8% in September from August. OUCH! And this happened to be even worse than what economists were expecting with a 4.5% decrease. Yes this did rock the market a little, with treasuries in a safe-haven buying rally, especially amidst some more unrest in the Middle East.

However, if you look at the data broken out by region, the Midwest has been more resilient than most to a decrease in home sales. While the number of homes sold in the Northeast dropped a full 10% for September, the number of home sales in the Midwest only dropped by 7%, better than the national average.

Even better, median home prices increased 1.4% in the Midwest, while home prices in the West dropped almost 9%, and the national average was a 4.2% decrease. So, while almost all other areas of the U.S. are seeing falling prices, the Midwest is still appreciating! And I appreciate that. :-)