Back-to-back housing reports show big price declines in Twin Cities
Wednesday, August 31, 2011
Herb Tousley, director of the housing program at the University of St. Thomas, offers another perspective. He says that using sale pairs that can include a short sale or foreclosure as one of the transactions isn't an accurate reflection of what's happening in the market because the motivation of the seller in both sales isn't the same and doesn't produce an accurate look at the market. That's why he's now producing a monthly index that factors in several metrics, including actual home sales as well as days on market. His index still shows weakness, but without the severity of the Case report.
Originally published: 08/31/2011, Star Tribune Just Listed Blog