Happy New Year?

Have you heard that house prices are up 9%?  That is what I read in the paper and hear on the news.  But if we take a closer look at the part of the market that affects the typical buyer and seller, that figure is in the 0% to 2.9% range.  The chart shows median prices of traditional sale properties in December 2012, 2011 and 2010, broken out by price range.  Traditional sale properties are the ones buyers prefer because they need a prompt response to their offer. Do buyers and sellers really care about what is going on in markets that don’t apply to them?  For an unbiased look at your particular situation, ask an appraiser.

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