Yes, the median price is not a good indicator of changing markets. As always, when the housing market looses the steam, the more expensive markets turn upside down first. The largest proportion of sold homes are in the higher price ranges, because of more attractive discounts. This trend pulls the median upward, creating an absolutely misleading, almost useless “indicator”. The opposite is true for the lowest median price. When the median price hits the bottom, the best deals are already gone…
L Thek
