I think you have done a good job describing today’s market in SD. Things really aren’t all that bad.
I think what you are missing is an analysis of the FUTURE of the market. Median price is a good things to look at when understanding the market today. Sales and inventory are decent future indicators – and you did touch on that.
But to better understand the future one must look at indicators such as interest rates, Loan-to-Value ratios, the number of variable rate loans, asian currency policy, price-to-income ratios, housing developer activity, – anything that gives one a deeper understanding of what major long-term factors are at play behind the basics of median price, sales and inventory.
Without looking to the future indicators, you could certainly see this as a soft landing which could go in any direction.
For me, this is what distinguishes a reporter from and analyst: A reporter tells you how things are. An analyst tells you how things are going to be. Your post shows you are a fair and honest reporter. However, I’ll stick with Rich when it comes to analysis.
