Oops !
I just thought of something. The price history from the 70’s and 80’s is completely irrelevant. Those sales were based on homes built before 1980. Whereas the sales in the last decade are a different mix of homes, some built prior to 1980 and some afterward. Therefore, the upward bias is likely caused by the change in the mix of home sales, not the actual change in price of homes. Therefore, the only way to understand prices is to interview real estate agents from the 1970’s.
