The National Association of Realtors® released their monthly report yesterday. The media reported the following snippet in various mutations from the report: national median price existing home price dropped 2% in the third quarter compared with the third quarter last year. That sells newspapers and grabs eyeballs.
However, the report led off with "The vast majority of metropolitan areas showed rising or stable home prices in the third quarter with most experiencing modest gains [my emphasis] compared with a year earlier...."
The media still want to report the calamitous nature of the real estate market, even when the news is mostly good. Come on, folks. Report all the news. Here's a link to the entire NAR report: http://tinyurl.com/22k238.