Quote:
Originally Posted by ExiledFlamesFan
|
Careful throwing out random stats. No where in that link does it say it is down 5% from the peak of June. Also, 'down' can have more then one definition. My interpretation of your post would be that housing prices are down, which is in fact your link doesn't state.
What the link does say is:
- Average price is up 4.3%
- Medium Price is up 2.%
- Total Quantity of Sales are down 7.4% from last December.
- Active listings and new listings are up by ~42% from last December
- Total Quantity of sales year to date are up 9%
Now, applying simply supply and demand rules - a jump in 42% new listings from the same month last year, with a decline in total sales, implies to me that we may have an overbought market and January will show a decline in prices. However, I am way out of my league on this.
To those who know housing... is a 42% increase in new listings from the previous year a normal trend? I understand the city grew so we should expect a increase in listings, but this seems fairly concerning