Not Appreciation, After tracking home price trends in 25 metropolitan statistical areas (MSAs), Radar Logic found prices in October are now 6.9 percent higher than a year ago, according to the company’s RPX Composite price.
“However, this increase was driven by a change in the composition of sales rather than price appreciation,” Radar Logic stated in a recent report.
Upon closer scrutiny, the analytics company explained the price increase is mainly the result of a decrease in distressed sales, or “motivated sales,” and the actual price increase for “non-motivated sales” is much smaller than the overall yearly gain. Read more ...
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