Home Prices Roll Backward

An article today in the San Diego Union Tribune which read “Home Prices Roll Backward”. To my surprise actually, and I do want to give credit to Roger Showley at the San Diego Union Tribune for not making this a negative piece and taking this opportunity to making this a negative point in the economy or the housing market.

What they go in to talk about is the fact that this decline is just a fluke. Simply because the months of December and January, the holiday season in general is a very slow time of year because buyers don’t necessarily want to move or deal with a purchase of this signaificance at this time a year, so that is something to really keep in mind.

Another thing when looking at the median home prices, you really have to consider the higher end market. We are talking about the $7,00,000 and above, that is a section of the market that is really struggling right now, so with the lack of those sales you have so many more properties in the lower end which are selling which keeps reducing the median average.

These are a few things to keep in mind. I’m really greatful that Roger Showley really explained what these figure meant and not casting a bad light on the state of the housing market which is so common in the media these days. Here is the link to the article I mentioned http://www.signonsandiego.com/news/2010/feb/17/home-prices-roll-backward/