A small change in home prices can produce a big change in the metric.
Not exact matches
Perhaps we spent too much time watching Monty Python movies and singing «Always look on the bright side of life,» but we thought that there was perhaps a good side to high gas
prices, that people would
change their habits to adapt, and suddenly the world would be filled with
small efficient cars, lots of mass transit, all food would be locally grown and every new
home would be New Urbanist or multifamily, mainly
in reborn Buffaloes or Detroits with a bicycle
in every garage and an organic chicken
in every pot.
«For example, even though the Memphis MSA has the highest effective gross yield (EGY) at 13.7 percent, its relative
small average
change in home price growth from Q2 to Q4 means that there's no real market slowdown
in Memphis — it's a year - round
home - buying season,» Villacorta says.
Regional median
home prices include rural areas and samples of many
smaller metros that are not included
in this report; the regional percentage
changes do not necessarily parallel
changes in the larger metro areas.
Regional median
home prices are from a separate sampling that includes rural areas and portions of some
smaller metros that are not included
in this report; the regional percentage
changes do not necessarily parallel
changes in the larger metro areas.
Given the incredibly inelastic supply of
homes,
small changes in (investor) demand create huge
changes in prices.
The point I'm struggling to make here is that
small changes in the flow of
homes hitting the market can, over time, have big impacts on supply and
home prices.