Bugs is right. The composition of homes sold changes every month, so the median is more of a reflection of the change in the mix of homes sold.
I don’t know why there is such volatility in the new home sales. The resale market median varied only $5K – $10K from month to month.
From the U-T: ” Statistics from the National Association of Home Builders showed a similar slide. Builders reported cutting prices in Septemberby 5%, according to the association’s most recent data”.
A 5% cut in September is a 60% annualized slide! If we assume the rate of decrease continues picking up, it can get much worse. And this doesn’t include builder incentives…
