I have my own methodology to see how the median is trending during the month. Based on Assessor’s data, I screen out new homes that were on the MLS, foreclosure sales, and anything but SFRs. It isn’t perfect, but it tracks the trends and “official” median statistics reported by RRB pulled off the MLS pretty closely. The Assessor is a lagging reporting indicator since it can take a sale up to 2 weeks to show up after recording, but probably at least 40%+ of what will be January sales have posted.
RRB Medians – November 2018 $377,000, December 2018 $360,000.
Mikey Medians – November 2018 $375,000, December 2018 $355,000, January 2019 to date $337,000. That will represent another 5% month over month decline in the median if the trend holds.
Guy at RRB says he is tracking a decline in median for January, but not as severe as what I am seeing. But he also reports that unit sales are tanking and will be near historic lows when the January numbers are finalized.
My prediction of a 10% decline in median for 2019 got picked up by another blog. Their 20% guesstimate seems more realistic than mine given the trends. Or maybe Armageddon II.