sorry, wrong number (but still ironic) / Miller corrects the record
year-over-year number different than quarterly decline
Jonathan Miller points out on his Matrix that the NY Post article I quoted yesterday (Manhattan Bumps Real-Estate Slump) used the wrong median sale price number in comparing his report for PruDE with REBNY’s. REBNY reported a 6.7% increase for the Third Quarter, compared to a year ago, while the Post (incorrectly) compared that to the 4% decrease in median sale price that Mille Samuel reported for the Third Quarter compared to the Second Quarter; in fact, the Miller Samuel number for year-over-year change was a 12.7% increase.
That’s what I get for not going to the source (the Miller Samuel report) but relying on the press.
But the gentle irony I pointed out is the same: Dottie Herman’s quote about not seeing any slump is hard to reconcile with her own commissioned report showing a quarter-to-quarter reduction in median sales price.
I am sure she was not aware of the juxtaposition. I am also sure she does not care what I think.
© Sandy Mattingly 2006