BTW – if they’re talking about median SALE or LISTING prices vs values, they should be taken with a grain of salt.
Listing prices: if high-priced homes sell faster, it will skew the median listing price downward without lowering actual home values.
Sale prices: if high-priced sellers sit on their homes rather than selling, it might skew the price down without affecting values.
Statistics are a funny thing. Now we just need Mel Watt to “come to the rescue”. (As if — despite the hullabaloo, his changes are very incremental and measured thus far.)
