Rich Toscano does a nice job dissecting the San Diego markets, and explaining the differences. An excerpt, plus one of five graphs from the VOSD:
http://voiceofsandiego.org/2014/03/06/cheaper-homes-still-rebounding-fastest/
Cheaper homes have done a lot better in the rebound, but they also suffered far worse during the crash. Here’s what happens when we start the graph at the bubble peak:
Read full article here, and donate if you can!
http://voiceofsandiego.org/2014/03/06/cheaper-homes-still-rebounding-fastest/
So I am thinking, when does the low-tier jump to the mid-tier and when does the Mid-tier jump to the high tier,
Did the High-tier ever transition to the Mid-tier etc..
OH I give up I got a headache
Maybe I got it wrong, but unless you are tracking same home sales the whole thing is going to be just a real rough estimate.
Almost need to do this by zip code because I think some have surpassed the 2005 level already.
Agreed, and all of these discussions are to examine general trends. Most zip codes are probably too large as well, and really all that matters is what is happening in the specific neighborhoods.
But while we are at it, let’s mention that recent sales may not be that reliable as an indicator of what the next guy will pay.
It is happening again as the frenzy conditions heat up – people are buying houses in original condition for retail, or retail-plus prices. You might get lucky with an appraisal, but they are drastically over-paying given the difference in upgrades.
It’s where a good buyer’s agent makes all the difference.