Tuesday, December 05, 2006

Chicago attorney's common sense take on the market

This was an older post below by attorney/blogger Peter Olson, but it goes along with several conversations I've had about overall market statisitics vs. a particular property.

The Illinois real estate market
"Here's a link to the IL Assn. of Realtors release on October housing figures. I don't see a lot of news here...IL median sales prices were off 3.5% from October 2005. What's the best data to gauge housing market strength? We see the various monthly reports from the different home builder and Realtor associations and I find them of little value. What does the fact that median home prices from year to year changed mean? These figures are comparing a diverse housing product to a different housing product the next year, right? We're not comparing apples to apples. It's a different product."

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