Yesterday the Dallas Morning News reported in its business section on a study (actually, a press release) that claims that home prices in the Dallas area actually ROSE in 2008. Yeah. Rose.
The truth, as reported every month by the same Dallas Morning News, is that the median price of North Texas homes has dropped from $149,000 in March 2008 to $129,000 in January 2009. The median price is a much better indicator of the overall health of a real estate market than simple average price, since average price can be affected by a few house purchases that are in the millions. The median price is the middle price, where half the homes for that month were sold for more, and half for less.
2008 North Texas Median Home Prices
Written by Jean Valjean
