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This is actually somewhat bullish that median prices are falling, it's one of the factors I was looking for on growth above 12% this year.
The make up either implies discounting on the top end or more middle to lower end purchases.
All in context due to a low bar, in fact if sales hit estimated levels last year we would have a negative print today year over year
even with the added 12 months a 2 million plus jobs in the cycle and lower rates.
Same data line goes with starts and permits, which has legs as rental demand is kicking into high gear now with household formation rising again
http://loganmohtashami.com/2015/07/24/no-housing-nirvana-in-this-cycle/
#housing