I thought you guys could figure it out 🙂 Actually, his other writings are much easier to decipher.
What he seems to be saying is that the median sales price for March was $610K (based on 258 Closings), and the median sales price for April will be $577K (based on the 239 most recent Pendings).
On the other hand, April Closings as of today (98 closings)are $629K. Balance that against the fact that Pendings are only $577K, and April could well be the high point for median sales.
He didn’t try to explain why the April Closings so far are so much lower than the April Pendings.
I like reading Jim site now and then, because he analyzes the data, and gives us a 2-month lead time on the NAR and Dataquick reports. I know it’s only a couple zip codes, but with about 250 monthly sales, it does give us a general indication of the SD market.
