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Message Subject Sales of existing homes fall for 11th consecutive month
Poster Handle docsquat
Post Content
"The average median existing home price increased 2.3% in 2022, from $358,800 in December 2021, to $366,900 in December 2022."

 Quoting: MadCitySleeper


house prices went up, not down.

you're welcome.

lmao
 Quoting: Anonymous Coward 85143370


They’re pulling statistics out of their arse! There is either an average sales price or a median sales price. Either way though, an increase in either would be expected as the luxury market never really stops. The people that have money continue to buy whatever they desire. Thus the high end luxury homes continue to increase in price. If you divided the market to show what happed to the average starter home, say everything under 300,000 you would probably see the market slowing. The first part of a real estate collapse is the days on market starts increasing. The next phase is foreclosure filings accelerate. Finally it enters the terminal stage when prices start to drop. All real estate investment is based on the come. An investor hopes for a slight positive income annually, maybe 5% with the knowledge that the value of the home is increasing while you are collecting the rent.
 
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