Yesterday's post HERE detailed the continuing monthly decline in the S&P/Case-Shiller index for the Portland metro area, and a reported modest year to year increase in median sales prices.
However, using one of the tools found in the right pane of the blog [Portland Metro Asking Prices ], I discovered that the median metro Portland ASKING price, both monthly and year to year, shows a significant DECLINE.
Because it has more up to date data than the S&P/Case Shiller index (November vs. October) and because it captures the pricing attitudes of sellers, the comparisons available using this tool provide a possible additional tool with which to gauge the direction of median sales prices.
Tool Results:
November 2007-October 2007:
Median Asking Price DOWN by 2%, More than $6.500.
Home Inventory DOWN by 4%.
November 2007-November 2006:
Median Asking Price DOWN by 5.2%, More than $18.000.
Home Inventory UP by 27.2%.
October 2007-October 2006
Median Asking Price DOWN by 3.3%, More than $11.500.
Home Inventory UP by 29.5%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment