jp
RE markets are not efficient and only what sells can be looked at this way. My experience is what I base that on and I know it to be true around me. I think Jim the Realtor wrote a similar thing a few years a back. If you saw on a daily basis how bad the data collection is on RE sales you would relie on those graphs alot less. In 2004 sales had no buyer concessions in the prices and in fact there were negative concessions with properties selling as-is. By 2005, some properties were throwing cars in with condo purchases, major repairs, buyer credits and more. You will never be able to adjust for those things in stats.
This says is all best. You know all those dumbass realtors you abhor out there who dont have a clue? Well theya re the ones that enter the data points those brilliant economists and our hosts depend upon. Garbage in………
