The business wire article cites the median price of existing resale single family homes, which actually increased in May.
The NBC article on the above referenced thread says that the AVERAGE price of a home decreased by $15k in May.
(which includes condos and presumably new homes).
These comparisons are like comparing the circumference of an apple to the diameter of an orange. Note the difference between mean and median (statistics).
I have been tracking the median price of existing SFR’s in Central SD since shortly after purchasing in 1996.
Month-to-month fluctuation in the 3-5% range for Central SD county and the county on the whole for either YOY changes or month-to-month changes are the norm.
This is what people who work with statistics call “noise”
Both articles are citing levels that are “within the noise” of the signal they are measuring and are misleading.
Looking over the longer term the trend is clear. Prices have been flat for the last year plus and are poised to decay based on existing inventory and seasonal factors over the next 6 months, followed by … (see voiceofsandiego.org)
