[know_bettor]

[SIZE=2][SIZE=2]http://www.lvrj.com/news/breaking_news/53712317.html[/SIZE][/SIZE]

[olecapt]

And it is getting screwier.

At mid month SFRs are down a percent or so and condos are up 4% on median and like 20% on average...an illustration of why I don't like Condo numbers. Somebody sold a 5.5 million penthouse and blew the condo numbers all to hell. That would have almost no impact on the median though so we still are getting big up on the condos and slight drop on the SFRs.

Stil though it is likely August will be positive again as the condos carry the SFRs.

REOs are still creeping down at about .5% per month or less. But they are still going down. Percentage is slowly dropping as well.

[tony soprano]

Originally Posted by know_bettor

[SIZE=2][SIZE=2]http://www.lvrj.com/news/breaking_news/53712317.html[/SIZE][/SIZE]

It seems that SalesTraq has been routinely panned by some as having unreliable data. GLVAR indicates that July's SFR median price was down sequentially.

July's median price of single-family homes was $138,800 and the median price of condominiums and townhomes was $67,000. Compared to the previous month, this represents a 0.9 percent decline in the median price of homes and a 1.5 percent increase in the median price of condos and townhomes.

Las Vegas home sales, prices stable in July - Las Vegas Sun

[olecapt]

Originally Posted by tony soprano

It seems that SalesTraq has been routinely panned by some as having unreliable data. GLVAR indicates that July's SFR median price was down sequentially.

Why not simply quote the Sun headline which reasonably well summed up July...

"Las Vegas home sales, prices stable in July"

[tony soprano]

Originally Posted by olecapt

Why not simply quote the Sun headline which reasonably well summed up July...

"Las Vegas home sales, prices stable in July"

Did you happen to notice what the quoted hyperlink says? Here's a hint - look at the blue letters you had to click on to read the article. Pardon me if I don't break out the champagne to celebrate an annualized ~11% rate of decline.

Present trends can not continue.

[olecapt]

Originally Posted by tony soprano

Did you happen to notice what the quoted hyperlink says? Here's a hint - look at the blue letters you had to click on to read the article. Pardon me if I don't break out the champagne to celebrate an annualized ~11% rate of decline.

Present trends can not continue.

That is likely to be overcome by the condos where the median is rising at a rate of 96% per annum and the condo average rising at about 400% per annum.

So much for quoting annualarized versions of short duration rates.

[tony soprano]

Originally Posted by olecapt

That is likely to be overcome by the condos where the median is rising at a rate of 96% per annum and the condo average rising at about 400% per annum.

So much for quoting annualarized versions of short duration rates.

Originally Posted by olecapt

I consistently work my numbers for SFRs only. That is because it is the only consistent base available. You could actually use townhomes but there are simply too few. All condo numbers are flakey and going to stay that way for some time yet.

All condo numbers are flakey remember?

So much for consistency.

[olecapt]

Originally Posted by tony soprano

All condo numbers are flakey remember?

So much for consistency.

We were talking about flakey numbers....

[tony soprano]

Originally Posted by olecapt

We were talking about flakey numbers....

Originally Posted by olecapt

I consistently work my numbers for SFRs only. That is because it is the only consistent base available. You could actually use townhomes but there are simply too few. All condo numbers are flakey and going to stay that way for some time yet.

Your previous position was that "all" condo numbers were flakey. Not surprisingly, when the condo numbers are positive, they no longer are flakey. I'll leave you to waffle back and forth on the condo numbers. The fact remains that the July SFR median price declined.

Something's got to give.

[olecapt]

Originally Posted by tony soprano

Your previous position was that "all" condo numbers were flakey. Not surprisingly, when the condo numbers are positive, they no longer are flakey. I'll leave you to waffle back and forth on the condo numbers. The fact remains that the July SFR median price declined.

Something's got to give.

Condo numbers are flakey...as this month is demonstrating. So what. Projecting annual rates from single months is also flakey.

IN my opinion the SFR is still falling slowly. But the condo is turning around in a big way. I have not taken up tracking condos...but I still find the different directions taken by condos and SFRs to be most interesting.

And things are clearly giving...and in unexpected ways.