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The Union-Tribune today reported the new numbers from DataQuick Information Systems that were released yesterday, but made an error placing the numbers in context.
The story claimed that the all-home median price (a measure we have recently shifted away from) reached its lowest point since April 2003.
Actually, the all-home median price logged by DataQuick for last month was $460,000. That marked the lowest level since April 2004, when the median was $445,000.
That’s quite a difference from April 2003, when the median was $352,000.
I checked the numbers with Andrew LePage, DataQuick analyst, a few minutes ago. The month’s sales rate was, as the paper reported, the lowest October in DataQuick’s record.
By the most recent Case-Shiller home price index for August, the county’s resale detached home prices dropped to a level not seen since July 2004.