“If there are a lot more homes sold on the low end and fewer on the high end, the median price is bound to drop dramatically,” NAR Chief Economist Lawrence Yun said. “In normal times, a median price would reflect typical homeowner equity changes, but these are not normal times. The jumbo (mortgage) market is frozen and the buying activity is more concentrated in lower-value homes.”

Funny, they were not complaining about this last year at this time when lower end home sales were in the dumps but higher end home sales were skewing the median higher.

“If there are a lot more homes sold on the low end and fewer on the high end, the median price is bound to drop dramatically,” NAR Chief Economist Lawrence Yun said. “In normal times, a median price would reflect typical homeowner equity changes, but these are not normal times. The jumbo (mortgage) market is frozen and the buying activity is more concentrated in lower-value homes.”

Funny, they were not complaining about this last year at this time when lower end home sales were in the dumps but higher end home sales were skewing the median higher.

“If there are a lot more homes sold on the low end and fewer on the high end, the median price is bound to drop dramatically,” NAR Chief Economist Lawrence Yun said. “In normal times, a median price would reflect typical homeowner equity changes, but these are not normal times. The jumbo (mortgage) market is frozen and the buying activity is more concentrated in lower-value homes.”

Funny, they were not complaining about this last year at this time when lower end home sales were in the dumps but higher end home sales were skewing the median higher.

And what, 50% appreciation a year is considered “normal times”?

“As reported Tuesday, the S&P/Case-Shiller Home Price Index’s 12.7% decline in February was the largest drop since its creation in 2001. Despite that index’s limited seven-year history, the Associated Press reported that home prices “plunged by a record” percentage and “at their fastest rate ever.””

Okay Yun, why don’t you look at the Median Resale price then? Oh, because that’s even worse.

This is propaganda at it’s worst, insulting at best, and all around simply pathetic.

And what, 50% appreciation a year is considered “normal times”?

“As reported Tuesday, the S&P/Case-Shiller Home Price Index’s 12.7% decline in February was the largest drop since its creation in 2001. Despite that index’s limited seven-year history, the Associated Press reported that home prices “plunged by a record” percentage and “at their fastest rate ever.””

Okay Yun, why don’t you look at the Median Resale price then? Oh, because that’s even worse.

This is propaganda at it’s worst, insulting at best, and all around simply pathetic.

“This is propaganda at it’s worst, insulting at best, and all around simply pathetic.”

Well said.

SD Realtor

“This is propaganda at it’s worst, insulting at best, and all around simply pathetic.”

Well said.

SD Realtor