NEW YORK ( CNBC) -- A response to a recent RealtyCheck blog on home prices included the following: "Someone needs to explain to Ms. Olick what these 'price declines' really represent because they most assuredly do not measure how much home values have changed. They simply measure the statistical midpoint for all home sales. So in an economy where people are buying smaller homes that number moves down. That doesn't mean that every house lost that percent value." Thanks, but no explanation necessary, as I believe I covered that a while back ( Home Sales Split by Price). But I would like to elaborate a bit on this theme, as we're starting to see some changes in mortgage applications; specifically the average loan amount is rising, which might suggest a turnaround in pricing, due to a change in the type of homes being bought.
By Diana Olick, CNBC Real Estate Reporter
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