![]() ![]() The middle is now the fourth house down, or the fourth house up. Now imagine, two buyers that would have bought the cheapest two houses can’t afford to buy them, and the sales don’t happen. My favorite example: To get the median price in a market where 9 homes sold, you list them by price from the highest to the lowest, and the price of the fifth house from the top or the fifth from the bottom (same house) is the price in the middle, which forms the median price. The median price is the price in the middle. The drop in sales year-over-year:Ĭollapse in sales below $400K changed the mix, skewing the median price ![]() In the price categories below $400,000, the bottom fell out. But you cannot maintain a housing market by just selling to the wealthy. At the top end, things weren’t so bad: sales were flat year-over-year in the $400,000 to $750,000 range, though they fell on a month-to-month basis. Supply of unsold new houses spiked in a historic month-to-month leap from an already high 6.9 months’ supply in March to a dizzying 9.0 months’ supply in April, having nearly doubled from a year ago: Unsold inventory of new houses spiked in a historic month-to-month leap of 34,000 houses, and by 127,000 houses from April last year, to 444,000 unsold houses, seasonally adjusted, the highest since May 2008.īoth, the month-to-month leap and the year-over-year leap were the largest leaps ever recorded, both in numbers of unsold houses and in percentages.īy region, unsold inventory spiked the most in the South, and dipped in the Northeast. Northeast: -5.9% for the month, +17.1% year-over-year. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |