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re: Why do the talking heads keep mentioning the 150% run up in the last 4 years
Posted on 8/9/13 at 1:32 pm to Doc Fenton
Posted on 8/9/13 at 1:32 pm to Doc Fenton
quote:
2008-AVG = $198,100
2009-AVG = $172,500
2010-AVG = $172,900
2011-AVG = $166,100
2012-AVG = $176,800
June 2013 = $214,200 (preliminary numbers)
Okay - a little alarming, but I'm curious to know why (because it's not inflation and it's not rising owner/occupancy rates) - part of it is sustained low interest rates, but that spike from last year to this (assuming it holds) is a "tap the brakes" moment, at the very least.
18%? That's a definite bump, if not a bubble.
2
Posted on 8/9/13 at 1:43 pm to Ace Midnight
quote:
18%? That's a definite bump, if not a bubble.
Well everybody around here used to give Yun and the NAR so much shite because their preliminary numbers always get revised so much. (My counterargument was always, "why get mad? would you rather that they just gave you no data for a month rather than giving you prelim #'s subject to later revision?")
Also summer numbers are seasonally a little bit higher than the average. But still, it does seem a little on the high side, although we won't know for sure how hot this summer's real estate prices are until better data comes in another couple of months.
Posted on 8/9/13 at 1:59 pm to Ace Midnight
quote:
June 2013 = $214,200 (preliminary numbers)
I wonder if the June numbers are higher because of people upgrading within their city? i.e. someone with a steady job who upgraded their house to a bigger house but didn't change jobs. This typically occurs in the summer, because people don't want to change their kid's schools mid-year.
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