Doesn’t DataQuick use average/median prices as opposed to same-home sales?
I think the appreciation and depreciation rates are exaggerated because:
-at the low end, the sales have been rising, largely due to investors and some first-time buyers purchasing the low-priced foreclosures.
-at the high end, you have truly wealthy buyers paying cash or putting down large down payments on houses that have lost value, but were falling from very, very high prices. Basically, a $1.3MM house goes for $1.1MM, so it looks like prices are high. Buyers are committing the same amount of money as during the boom, but they are buying more house for the money. It makes it look like prices are holding up.
