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news
Joined: 14 Jul 2007
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Location: Greater Boston
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Renting in Mass
Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011
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 Posted: Mon Nov 15, 2010 2:58 pm GMT Post subject: |
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| Quote: | | The one bright spot for sellers is that home prices are stabilizing. |
I guess you could call decelerating price gains "stabilizing." Stabilizing towards down. |
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admin
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| Posted: Mon Nov 15, 2010 3:17 pm GMT Post subject: |
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| Renting in Mass wrote: | | Quote: | | The one bright spot for sellers is that home prices are stabilizing. |
I guess you could call decelerating price gains "stabilizing." Stabilizing towards down. |
Yeah, it's wildly premature to extrapolate the first post-credit median into a long term trend, as the word "stabilization" connotes. It's also a particularly bad time to extrapolate from the median to prices for the whole market given that the number of sales changed so substantially. That almost certainly changed the mix of what is being sold, which can move the median even when same-home prices haven't changed. The S&P/Case-Shiller Index will be a much better gauge for price movement when it comes out, though that will unfortunately take much longer given that it is published with a two month lag and given that it is also a 3 month moving average/composite. We'll have to wait for the December numbers (released in February) before the index is free from the first order effects of the credit.
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