9/29/2006

Quote of the Week

"Someone who really wanted to know what is going on would have to dig deep to find reality: a decline in median prices just means that more cheaper homes are selling than expensive ones; the median says nothing about the fate of an individual house or neighborhood, or city." Lou Barnes, Inman News.

For instance, some news sources quote a different monthly median price than others because they calculate in the price of condos with homes for the monthly median selling price--in the majority of markets condos sell in a lower and separate niche than single family homes. To commingle them gives a different picture than when compared separately.

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