BobBob
Senior Member
I wish these reported stats would be more scientific and meaningful. For instance, an average-per-square-foot monthly average would make a lot more sense.
If more people buy smaller (cheaper) homes than more expensive ones in a given month, the average sale price (the metric they report) will drop, but no home's value actually needs to decrease at all.
I'm not saying the 6% drop in average closing price is meaningless, it just isn't the most accurate metric to tell us what's going on.
If more people buy smaller (cheaper) homes than more expensive ones in a given month, the average sale price (the metric they report) will drop, but no home's value actually needs to decrease at all.
I'm not saying the 6% drop in average closing price is meaningless, it just isn't the most accurate metric to tell us what's going on.