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Anonymous
Anonymous
17 years ago

When only one in about 7
When only one in about 7 homes are selling monthly, as opposed to about 1 in 1 at the peak (as is the case in the San Fernando Valley where I am), you can bet the buyers are getting more for their money. They spend the same amount, but only the best listings sell. The crap just sits.

Asterix
17 years ago

There must be better metrics
There must be better metrics for judging a real estate market. For example, rather than reporting the median sales price, what about reporting the average or median price per square ft. That would factor in the size of the property as well as the price. Another possibility would be to report the estimated monthly payment divided by the square footage. This would factor in the interest rate as well as the sales price and property size to reflect the true cost of ownership.

BTW, I might be able to find out what kind of additional data is available at Dataquick. (I have a contact)

Asterix