Remember, those numbers are from MLS information and we all know how reliable that is.
Just counted 7 FSBO signs on a 5 mile stretch of secondary road where it was rare to find 1.
Statistics.... where's Austin? IF the lower priced properties are going FSBO because so many are too upside down with their mortgage to cover a Realtor's commission, those statistics are skewed. Many are already in or pending foreclosure. Those are not in the MLS and not included in this statistic.
My personal opinion is that this is a media hype trying to keep the general public from finding out reality while trying to keep people buying overpriced listings to keep their own commissions flowing. Then again, I'm cynical. When I see builders offering discounts..... the prices ain't risin like that article says they are!
I think it's interesting that a lot of the places on the list with high percentages are the same places we've seen in stories about housing bubbles.
The stats with low increases or negatives seem about right - although I was surprised that Alburquerqe was listed negative.
Interesting, Gulfport/Biloxi were negative while neaby Mobile was positive.
Kansas City seems about right, Tulsa seems high.
All of this is pure WAG, of course. I don't work in any of those places. Now, if they listed numbers for lowly little Joplin I could tell you whether they were right.
I follow the MLS stats for Joplin, and generally, I find them to be pretty good. It's possible to separate them by neighborhood here. In some other locales, MLS stats might be a lot less reliable. However, I think it is worth remembering that they are probably generally good data (if you keep in mind the limitations of not having FSBO's included).
As with any statistic, it is important to remember what you are looking at and what the stat represents. These are the median prices for properties sold through realtors - the stats are probably quite reliable, but they are what they are.
Here, most FSBO's sell near the same price ranges as listed properties do. I have seen a lot of them where one party or the other got burned by not having good pricing info before selling - but, it's the buyer about as often as the seller as far as I can tell - therefore, averages should not be adversely affected.
Y wouldn't the Housing Market be up?? They are offering first time home buyers 125% of value all closing cost paid by builder or seller (Rolled into loan) no one realizes that till they own home for a while. This research I'm sure includes Foreclosed property sold at a huge lost. Wording & doing the polling in a certain way gives results U need. Watch next election starts rollin around this information will change. Bet any one of us could put statistics together that would dispute these.
I agree with Andrew in Charlotte. There are many markets that have done well here - those close to town. Some of the markets further from the center city have been level or have been hit, some down more than 5%.
San Diego shows a +26.6% change in the "median value" in that article. I am not sure if you can translate this directly inot a percent change in value. However the San Diego regional chamber of commerce reports a +16.8 % change in value for "city of San Diego" from 10/02 to 10/03. Some areas in the county have seen rates as high a +29.4% in the same time period.