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Is that median value, or median price of recent home sales? And then what metric does the article use exaxtly?

• twoodfin 2y ago
  I was curious, too. It’s from the 2022 American Community Survey: https://www.census.gov/acs/www/about/why-we-ask-each-question/ownership/ https://www.census.gov/acs/www/about/why-we-ask-each-questio... It’s an owner-reported estimate of a hypothetical sale price.
  • chiefalchemist 2y ago
    Having done res real estate for a hot second... Owners *always* over-estimate the value of their homes. They always want to ask for too much. Sure, we hear of occasional up-bidding in hot markets but that's typically the exception.
    • twoodfin 2y ago
      Yes, I suspect if you were doing real research vs. clickbait for Lending Tree you’d find some way to calibrate owner estimates to actual sale prices & adjust for that bias.