http://www.melissadata.com/lists/ezlists/ezhomeowners.aspx Type in your zip code and then divide June's median price with May's price and thats how much it went up or down. (for those of you that are not good with numbers if your number comes up to something like 1.05 that means your house went up in value 5% and if it reads .95 then it went down in value 5%) Mine is up 7.5%!!! woo hoo! Another 10% gain and its worth as much as i paid for it back in aug 2008!
Better cut yer losses. if rates continue to go up at this rate, there's nowhere to hide for home prices. and lest we not forget the Option ARM explosion coming next year...
SO, you're implying you're good at math by trying to help those that aren't. Good stuff... But, you may first want to take a refresher on the difference between median and mean. Once you've done that you can tell us how statistically valid the results are when you're dividing a mean of two samples by the mean of three.
Checked 3 areas 1. UP approx 3%, however, the number houses sold was down 80%. 2. UP 8%, but the number of houses sold was down 65%. 3. DOWN 18.5%, number of houses sold from May to June down 50%. Not really a worthwhile gauge on how the real estate market as a whole is working out.
Option ARMs, next big setback for the real estate market, this should bring down housing another 10-15% across the country over the next 18 months.
My home is waterfront property, boat dock,pool,large lot ranch style home built in 61, good established community in southflorida. I bought this place in 1998. I paid it off early. but I aint selling this place ever.