Excellent article on U.S. housing prices.

My biggest beef with these articles is when they take an example of one home selling for $huge_amount less than the original list price. It’s meaningless.

We have no idea if the original list price was even remotely in touch with reality. Many sellers out there seem to be delusional.

After their house is on the market for several months they may have a moment of clarity and reduce the price $huge_amount… but it’s still overpriced and doesn’t sell. Big deal.

Focus on the median price in your area and be aware of the problems with median prices, they exaggerate the ups and downs of price movements.