May 29th, 2008
A bit of good news for real estate values ?
From TucsonMortgageBlog.com
http://www.tucsonmortgageblog.com/18-of-20-real-estate-markets-show-signs-of-improvement/
In 18 of the 20 largest metropolitan areas, home values declined at a slower pace than in the previously measured month. The report also showed that national home prices are down 14.4 percent from March 2007.
Unfortunately, it’s the more sensational 14.4% figure that newspapers chose to report this morning. If you never went further than the headline, you’d miss a key piece of analysis.
Comparing today’s market to last year’s market is a lot less valuable than comparing it to last month’s market. That’s a better way to analyze the market’s health.
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