SB,
It’s time to get your head out of the sand. If we are going to talk about a median peak then it is exactly that, the point in time when the median hits its highest level which was 11-05. There is and can be no arguement about that. August was 7% off that number plain and simple. Prices are dropping everyday and when the August escrows close they will be even lower. I have no doubt that the median YOY change for November 2006 will be in double digits.
As for being accurate, we all know the median is very very skewed by lots of issues. However, I find it hard to believe that someone who is out there doing any reasonable amount of appraisal work isnt seeing 10% price drops just about everywhere. Every Realtor I talk to (and there are many) thinks we are down 10 to 15%. You were correct in another thread to surmise that individual ZIP code medians from month to month relie on too small sample sizes to have any meaning. However, a countywide monthly median based upon a few thousand sales each month does not qualify as a small sample size. Its time to stop dancing as you’ve got 2 left feet. Suggesting we use an annual median is truly laughable. Why not use a median for the decade?
