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May's sales up 2.4% to the highest level since September/October of last year.
April prices unchanged in the mid-atlantic and up 1% in New England. Rounded numbers. Declines in 5 regions, increases in 4.
May sales dropped 3.6% when compared with May 2008. Reporting the month to month increase is useless since sales increase EVERY year between April and May. This happened last year, the year before that, the year before that, and the year before that.
Median prices for existing single family homes decreased 16.8% since May of 2008.
Take Median prices with a grain of salt. Median prices are affected greatly by the overall trend in WHICH houses are selling. EG, lob losses and subprime/alt-a foreclosures are causing a lot of movement in the lower price tiers. As higher priced homes start to come down in price and start selling more, median prices may actually increase to reflect the fact that homes in higher tiers are selling at an inflated rate. I favor the same-home sales price data reported by case-schiller.
yes, it's the favorite data source of the ivory-tower types.
out in the real world, hardly anyone uses that crap when they decide to buy a home.
Truer words were never spoken. Sheeple follow the shepherd. Unfortunately, the shepherd has led them to the edge of a cliff and there is nowhere to go but down. Look out below. Green chutes!!
Newswriters don't lie... but liars can tell news! It's just a little ol' 1!
Anyone else pick up in the "oops" in the article's byline?
WASHINGTON (MarketWatch) -- U.S. home prices fell 0.1% in April, the Federal Housing Finance Agency reported Tuesday, and declined 6.8% in the past year.
Yet in the full article, The median sales price fell 16.8% in the past year to $173,000, the third largest year-over-year decline on record.
What do you think about that? Small and insignificant? Or possibly a little intentional mistake from our ra-ra, damn-the-torpedoes-full-speed-ahead, bull-biased, head-in-the-sand investment writers?
I am amazed that their go to counter has not been posted yet...
"Real estate is local morons!!!"
Quote National when good and defend by arguing RE is local.
Quote monthly trends not YOY.
Dismiss seasonal flucuations.
Dismiss YOY trends.
Dismiss Case-Shiller.
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Newswriters don't lie... but liars can tell news! It's just a little ol' 1!
