Scruffydog, In reference to

[LA_Renter]

Scruffydog, In reference to this

http://www.dailynews.com/gregwilcox/ci_6273184
System glitch delays housing numbers
“The news last week that the San Fernando Valley saw a record median house price of $650,000 in May was not all that surprising. The bigger surprise was that it eclipsed the prior record set in April of $637,000.”

I would like your opinion on this. Please read my post above concerning San Fernando Valley home sales. Click on this link;

http://www.srar.com/Revised_SFV_statistics_page/Single_Family_Sales_Annual_%20&_by_Month_1984_2002.pdf

Now look at the data on the link. These are San Fernando Valley home sales dating back to 1984. Look at April and May of this year.

April 447
May 629

Compare that to Aprl May sales during the last downturn of 90 – 93

……….’93…..’92….’ 91 ….’90
April..762….692…..865….824
May…818….701..1,000….882

OK, April May sales of 2007 were not even close to the worst years of the downturn in 90 to 93. A downturn where home values dropped around 35%. These numbers do not factor any population growth between 90 – 93 verses 2007. That makes this Spring the most severe downturn on record in the San Fernando Valley by a large margin. FACT. Now look at how the Daily News is reporting this. A Record median home price. Do you see a problem with the reporting here?? Give me your thoughts on this. I’m curious.