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Declines resume in MA SFH nominal median - MAR: prices down

 
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news



Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston
PostPosted: Tue Jan 25, 2011 1:49 pm GMT    Post subject: Declines resume in MA SFH nominal median - MAR: prices down Reply with quote
Use this forum thread to discuss the following link.

Description: Declines resume in MA SFH nominal median - MAR: prices down 6.2% YOY
URL: http://www.boston.com/business/ticker/2011/01/massachusetts_h_1.html
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=3357

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Renting in Mass



Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011
PostPosted: Tue Jan 25, 2011 2:29 pm GMT    Post subject: Reply with quote
Quote:
On a month-to-month basis, the December median selling price was down 4.7 percent from $299,900 in November 2010.

On a month-to-month basis, the median selling price of a condominium was down 7.9 percent from an November 2010 median of $275,000.


Annualize that!
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Renting in Mass



Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011
PostPosted: Tue Jan 25, 2011 2:36 pm GMT    Post subject: Reply with quote
I know, I know, it doesn't make any sense to extrapolate from one month of noisy data. Let me dream.
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admin
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Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
PostPosted: Tue Jan 25, 2011 8:15 pm GMT    Post subject: Reply with quote
Renting in Mass wrote:
I know, I know, it doesn't make any sense to extrapolate from one month of noisy data. Let me dream.


There's also seasonality at play. A decline from November to December isn't to be unexpected. (4.7% is a 44% decline annualized, since you asked.)

- admin
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CL
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PostPosted: Wed Jan 26, 2011 7:03 pm GMT    Post subject: Reply with quote
I think looking at real estate market broadly is fairly misleading, since you are very unlikely to hold the asset class across the spectrum (like you can in stock market via ETF). Instead you are going to only have 1 house. So you need data much more specific that MA SFH. Town data with some price level filter will be useful. At least look at Case Shiller 3 tiered data and pick the one you are interested in.
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