Thursday, December 07, 2006

Price Data Seemingly Flawed

The NY Times had an article yesterday that argued that home prices are actually down year-over-year, despite there being a prevelance of statistics that median home prices are mostly up year-over-year.


"The truth is that the official numbers on house prices — the last refuge of soothing information about the real estate market on the coasts — are deeply misleading. Depending on which set you look at, you’ll see that prices have either continued to rise, albeit modestly, or have fallen slightly over the last year. But the statistics have a number of flaws, perhaps the biggest being that they are based only on homes that have actually sold. The numbers overlook all those homes that have been languishing on the market for months, getting only offers that their owners have not been willing to accept."

Full article...


Anonymous Anonymous said...

there you go!

Friday, December 08, 2006 9:43:00 PM  

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