Uh oh, ... existing home sales fall sharply ..., say it isn't so.
That's the headline, in the body of the story Reuters goes on to say ".... The National Association of Realtors said on Thursday existing home sales dropped 1.2 percent to a seasonally adjusted annual rate of 4.94 million units last month."
Dropped 1.2%, geeewhiz, I didn't realize that a 1.2% drop is a... fall sharply .... drop. Did you.
Oh well, it makes for a catchy headline.
The home sales story for January here in the Catalina Foothills is not quite as dramatic
50 homes sold last January and 50 homes sold this January. Boring but true.
Though there is a difference in sold prices and days on market between last Jan and this Jan.
Last Jan 50 homes sold for a median sold price of $539,500 in 35 DOM
This Jan 50 homes sold for a median sold price of $508,000 in 62 DOM
My opinion; one month is much too short a time period to draw any conclusions about the ups and downs of sold prices. Give it 3 or 4 months and a more accurate and reliable picture of the market will begin to emerge.
see TheFoothillsToday.com
to find your very own Catalina Foothills Home
