Despite our admonition in yesterday’s Daily Data Discussion post not to email and tell us what idiots we are for using median home price data in our analytics – several witty emails rocketed our way through cyberspace yesterday. 

Here’s my favorite –

You guys are dumb*****.  Median home prices dont mean nothine (sic) and are given by the dumb**** realtors to try and fool us all the time.  Im (sic) trying to learn about real estate invest (sic) and even I know that the Case Schweiller (sic) stuff is the only real stuff you can trust about home price.  You are a dumb*** and im never comine (sic) to your dumb*** websight (sic) ever. 

‘Nuff said. 

As we noted yesterday,  while we agree with much of what the median home price naysayers proffer – we still find it an interesting metric to track and discuss occasionally, and will continue to do so along with lots of other professionals looking at the industry.  

We are most definitely going to pen an article for The Emerging Market Report Newsletter in the next few months reviewing in detail some of the debate regarding the weaknesses and purported evils of using median home prices for analytical purposes – perhaps we’ll invite the intrepid author above to share more of his insightful commentary. 

Here are the markets in our database as of today with the lowest median home prices – after looking at yesterday’s data, these numbers are even more impressive -

1) Harlingen, TX  $82,300
2) South Bend, IN  $84,900
3) Fort Wayne, IN  $88,700
4) Buffalo, NY   $90,000
5) Toledo, OH   $92,000

Database Median:  $181,633
Database Average:  $159,600

Tomorrow we’ll look at markets around the country with some of the largest inventories of for sale single family homes and condos. 

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