Is the median home price to median income correlation reliable to predict income to house market trends, if there is no data to show percentages of households who earn “the median ie $55K, v. the number of homes priced at the median?
I would think the only way to figure how long an inventory of median priced homes would last…is to know how many households have a median income.
Since the median is not the same as the average. What if the median is $55K but the average is $80K?
