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“The April result likely benefited from demand created by the impending expiration of the homebuyer tax credit. Indeed, homebuilders and realtors are reporting a steep drop in demand since the recent expiration of the credit. Prices are likely to follow demand, so we expect this index to trend weaker in coming months,” said Joshua Shapiro of MFR Inc.
I'm quoting actual data and you are quoting editorial speculation. LOL.
The data doesn't mean anything without proper context.
I'll note that going back on your postings in the past, you strongly favor a bull position on real estate and often present data that favors the bull position without presenting context that would diminish the bull impact of that data.
You didn't go further than 1 year which the article assumes was the low. The net is still a significant loss. Only if you bought last year and were selling now might you see that 2% increase.
Here's the follow on sentence regarding "from the peak":
" Overall, prices are off 30% from their peak"
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