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Price of housing

Median home price - Tahoe Truckee

$529,0002014

What is this indicator?

The Tahoe Sierra Multiple Listing Service reports the median and average home price. The median home price is the price that is midway between the least expensive and most expensive home sold in an area from January 1 until December 31. Median home price is considered more accurate as an indicator than an average price, which can be skewed by a few high priced home sales.

California: http://www.car.org/marketdata/data/housingdata/

United States: http://www.census.gov/const/uspricemon.pdf

Comment
What is the indicator?  The Tahoe Sierra Multiple Listing Service reports the median and average home price.  The median home price is the price that is midway between the least expensive and most expensive home sold in an area from January 1 until December 31.  Median home price is considered more accurate as an indicator than an average price, which can be skewed by a few high priced home sales.  Affordable housing availability is measured by available units and average time on the waiting list. Why is this important?  Homeownership contributes to tax benefits, home equity, and a commitment to the community.  The region benefits from local homeowners and renters with local purchases, from higher enrollment in schools, committed local employees and additional tax revenue.  In addition, air quality is improved and traffic is reduced when employees live/work close to work/home.  As home prices rise, low to moderate income working families often move further from work to afford housing, housing and transportation costs are allocated from other life necessities (i.e., food, health, and childcare), and time is spent commuting instead of at home.  Data Source: Tahoe Sierra Multiple Listing Service
Scorecard Result Program Indicator Performance Measure Action Actual Value Target Value Tag S R I P PM A m/d/yy m/d/yyyy