I came across a website today that seems to offer a lot of good information for prospective home-buyers and sellers. The site is www.cyberhomes.com and it pools together information on all aspects of the home-ownership process from shopping for a first home to getting your money's worth when remodelling to maximizing your sale price when it comes time to move. One article that I found particularly helpful as a reminder that you must always look beyond the statistics is this one about what median home price numbers do and do not mean. The article does a good job of pointing out that median price statistics are a better measure of the type of homes that are selling in a given market than of home value trends.
Understanding the nuances of statistics like 'median home price' is important to making wise real estate investment decisions and you should remember to take any market stats that you see in newspapers or blogs (even this one) with a grain of salt.
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