Why the Median Home Price Is Meaningless in Today’s Market NAR will release their latest EHS report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner. So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report. NAR reports on the median sales price, while some other sources use repeat sales prices. Here’s how those approaches differ. WSU explains median prices like this: “The median sale price measures the ‘middle’ price of homes that sold, meaning that half of the homes sold for a higher price and h... #realestate #homeownership #homebuying www.DanFreshley.com

Why the Median Home Price Is Meaningless in Today’s Market NAR will release their latest EHS report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner. So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report. NAR reports on the median sales price, while some other sources use repeat sales prices. Here’s how those approaches differ. WSU explains median prices like this: “The median sale price measures the ‘middle’ price of homes that sold, meaning that half of the homes sold for a higher price and h... #realestate #homeownership #homebuying www.DanFreshley.com
http://dlvr.it/SqyJzD

Comments

Post a Comment

Popular posts from this blog

#ForBuyers #ForSellers #HousingMarketUpdates #BuyingMyths Experts Project Home Prices Will Rise over the Next 5 Years: Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. http://dlvr.it/SzgmjG

Image
#ForBuyers #ForSellers #HousingMarketUpdates #BuyingMyths Experts Project Home Prices Will Rise over the Next 5 Years: Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. http://dlvr.it/SzgmjG /> http://dlvr.it/Szgmz4
Read more

Optimization, Document Tracking, MSR Financing Products; Saving Money on Credit Reports and CE

Image
As President Jimmy Carter celebrated his 99th birthday seven months into hospice, welcome to the 4th quarter! (Will lenders experience any “Q-4-ia”? Say out loud.) Let’s talk U.S. lists! California, Indiana, Michigan, Texas, and Virginia are top five in pumpkin growing. The National Association of Realtors, U.S. Chamber of Commerce, Pharmaceuticals, American Hospital Association, and Blue Cross/Blue Shield are the leading five lobbying spenders. And you can add the Internal Revenue Service's Income Verification Express Service (IVES) to the list of "essential" government activities that would continue to operate in the event of a government shutdown. We won’t have to worry about that until mid-November, as the government kicked the can down the road and passed a Continuing Resolution that averts a government shutdown to November 17. HUD (Ginnie Mae and FHA included), USDA, and the VA will continue to operate temporarily uninterrupted, and for a bonus the bill also include...
Read more

Builders Respond to the Need for Less Expensive Homes Builders are responding to the need for less expensive homes. Let’s connect to go over the process of buying a newly built home and find the right one for you. #affordablehomes #homebuilders www.DanFreshley.com

Image
Builders Respond to the Need for Less Expensive Homes Builders are responding to the need for less expensive homes. Let’s connect to go over the process of buying a newly built home and find the right one for you. #affordablehomes #homebuilders www.DanFreshley.com http://dlvr.it/SvX6fV
Read more