SA Home Sales Drop 17.3% from Jan. 2007, Median Sale Price Down 1.9% (San Antonio: real estate, 2010)

[Bowie]

MySA.com: Business

In the MySA.com article linked above, the Texas A&M University Real Estate Center reports some negative and positive trends in San Antonio home sales.

[ryneone]

In fact, looking at the 12-month moving average that evens out seasonal price fluctuations, the median home price in San Antonio was up 4.6 percent to $147,208 as of the end of January 2008, versus $140,700 for the 12 months ending January 2007, Gaines said

From the article.

Your title should be changed.

[Bowie]

Originally Posted by ryneone

From the article.

Your title should be changed.

I disagree. The moving average cited in your quote includes the 11 months prior to the month, so the January 2007 numbers include data as far back as February 2006. Two year-old data is barely relevant to current data. The numbers in my title are an apples-to-apples comparison of the freshest data available from 2008 to data from the same month in 2007.

Besides, what's the advantage of rounding out seasonal averages when you're comparing data from the exact same season in 2 different years?

[ryneone]

Originally Posted by Bowie

I disagree. The moving average cited in your quote includes the 11 months prior to the month, so the January 2007 numbers include data as far back as February 2006. Two year-old data is bound to look better than current data. The numbers in my title are an apples-to-apples comparison of the freshest data available from 2007 and 2008.

It also says prices fall at this time YEARLY. Yes this year was a bigger drop but the article says their is noting to get excited about. Your title wants to excite people. Look what he says.

[quote]But while national prices are expected to continue to slide as inventories rise, San Antonio and Texas sales prices should not see an extended decline/QUOTE]

[Bowie]

Originally Posted by ryneone

It also says prices fall at this time YEARLY. Yes this year was a bigger drop but the article says their is noting to get excited about. Your title wants to excite people. Look what he says.

OK, I'll concede there could be a sample size issue to draw conclusions about trends from. I just added the phrase "and positive" to the OP, but if I take the numbers out of the title, no one will read the thread.

We don't yet know what we don't know yet. So if the numbers bounce back in February, we can start a new thread.

[traficdogn]

Originally Posted by ryneone

It also says prices fall at this time YEARLY. Yes this year was a bigger drop but the article says their is noting to get excited about.

Unfortunately, the article writer is misleading the citizens of San Antonio.

Home prices fall 8.9% in 2007, Case-Shiller says - MarketWatch

While this is on a national level, comparable home prices movements and median movements are two totally different things. The SA-express news report was with regard to median which is not too relevant.

" Home prices fell 8.9% in 2007, the largest decline in the Case-Shiller home price index in at least 20 years, Standard & Poor's reported Tuesday.
Meanwhile, a separate measure of home values reported Tuesday by the Office of Federal Housing Enterprise Oversight showed a 0.3% decline in home prices in 2007"

[hello13685]

And just a couple of days ago, I read a Fortune Magazine article that listed price drop projections for many cities. It projeted that San Antonio house prices will drop 25% over the next five years. They expect some cities to lose 40%. I don't have a link, but you can Google it.

[Jody84]

I doubt that, the NORTHWEST side BOOM alone will be bigger then the whole city of corpus by 2010....real estate is a great business to be in right now!

[Retired-&-going-back-2-CA]

Originally Posted by Jody84

real estate is a great business to be in right now!

Are you serious or being sarcastic?

[ryneone]

Originally Posted by hello13685

And just a couple of days ago, I read a Fortune Magazine article that listed price drop projections for many cities. It projeted that San Antonio house prices will drop 25% over the next five years. They expect some cities to lose 40%. I don't have a link, but you can Google it.

Right.

Where is the link

Here are some links about all Forbes list . Dig through this. Please stop posting for the sake of everyone.


Forbes Lists, World's Richest People, and more - Forbes.com