To get an accurate read on the US housing market, look to repeat home sales metrics, not median sales price.
That's according to an analysis from CoreLogic, who note that while the median sales price determines trends based on the midpoint of all houses sold in a given market, repeat sales indexes like CoreLogic's Home Price Index (HPI) and the CoreLogic S&P Case-Shiller Index measure appreciation based on the difference between the price of a home now versus its prior sale.
In July, for example, the decrease in HPI was much smaller than the median decrease. And the drop in the latter was the biggest since January 2016, Malone says.
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