Scorpio69er

Housing Bubble and Real Estate Market Tracker

Re: National Association of Realtors and their use (and your unquestioning regurgitation) of median home price data --

The seeming paradox that median home prices are increasing while sales are falling is strictly a function of the fact that <b>the median price metric reflects that home sales are now being skewed to higher-end homes<b>. It does NOT mean that average home prices are increasing, nor does it mean the market is on the upswing.

<b><i>"The low end is where you have all the inventory so the desirable areas are driving up the median. The numbers are misleading and they freak you out,"<i><b>... said Manuel De Neves, a real estate agent at Fireside Realty in San Jose's Willow Glen area.

realtytimes.com/rtcpag...

<b><i>"As the ratio of expensive homes to lower-priced houses sold increases, median prices over the entirety of the housing stock will rise even if prices on all individual houses are falling."<i><...

www.azcentral.com/blog...;title=median_home_pri...

The NAR has, of course, a vested interest in selling real estate. Hardly the best source from which to get REAL housing data.