Comparing condo prices may be the best way to gauge the direction of housing prices.
By Les Christie, CNNMoney.com staff writer
January 18 2007: 1:20 PM EST
"In the third quarter of 2005, NAR stats for single-family homes show that prices fell 1.2 percent from a year earlier, with 30 percent of markets showing declines. "
"Condo prices not only dropped more steeply, 2.1 percent, but 46 percent of markets showed declines." Latest home prices
"Which gives a truer picture? Adam Koval, a former investment banker who now runs SocketSite.com, which covers San Francisco's real estate market, insists condos are the way to go." Full Article.
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I hope the author was unaware of the present ongoing global economic recession. But I would like to say and agree to the point that comparing condo prices may be the best way to guage the direction of housing prices.
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