[quote=Enorah]Vees, Leslie Appleton Young gets paid to say stuff like that[/quote]
True, however, the information is actually useful – although the implication made that the housing market has turned the corner is one that shouldn’t be drawn from a median sales price.
What the median sales price is relevent for though is that it implies that the bottom of the market (entry level housing) may have hit a floor – especially since we know that the low end has made up the lions share of sales for most of the past year or more (so any shifting of the distribution of home sales would presumably be away from primarily low end, not towards yet more low end, which could result in a lower median price).
One can’t draw conclusions though about mid and high end housing though, and where they are in the boom-bust cycle.
