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MA SFH Apr 2014 vs Apr 2013 - Warren Group: nominal median u

 
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Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston

PostPosted: Thu May 29, 2014 8:42 pm GMT    Post subject: MA SFH Apr 2014 vs Apr 2013 - Warren Group: nominal median u Reply with quote

Use this forum thread to discuss the following link.

Description: MA SFH Apr 2014 vs Apr 2013 - Warren Group: nominal median up 0.6%, volume down 2.3%; MAR: nominal median up 2.3%, volume down 7.2%
URL: http://www.wbjournal.com/article/20140528/NEWS01/140529946/home-sales-down-in-ap ...truncated...
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=4134

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Joined: 14 Jul 2005
Posts: 1823
Location: Greater Boston

PostPosted: Thu May 29, 2014 8:49 pm GMT    Post subject: Reply with quote

This is interesting. The CPI Northeast Urban index was up 1.63% YOY in April, so The Warren Group's price change is actually a decline in real terms (the MAR's price change was not, though). That was a bit sooner than I expected to see real price declines again. It's a negligible decline, but the good news is that we've broken the trend of double digit percentage increases.

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RealEstateCafe



Joined: 11 Dec 2007
Posts: 204
Location: Cambridge, MA

PostPosted: Tue Jun 03, 2014 11:07 am GMT    Post subject: Reply with quote

FLASHBACK: The prediction Zillow's economist made at their "summit" in Boston last June seems to be validated by April's numbers. Whether that will translate into Bidding War backlash at some point is still an open question:

Will stock market losses & Zillow forecast wipe out bidding wars?
June 21, 2013

EXCERPT:

Did you attend the Zillow Summit today in Boston? Their lead economist forecast price appreciation in Metro Boston in 2014 at a mere 0.9%. Inflation-adjusted, doesn’t that mean the value of homes will drop next year? Some buyers in Cambridge and parts of the City of Boston could outpace inflation, as Zillow forecasts higher appreciation in those locations. Does it make sense to cool off the “year of the over-ask” hype before 2014 turns into the year of the bidding war backlash?
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