WHAT WERE THE ACTUAL NUMBERS?

The median home price for December rose to $630,000.  That is only 2.3% behind the pre-recession high of $645,000 which we hit in early 2007 before the big crash.  Don't expect that crash now as homeowners were properly vetted and qualified for their home loans and for the most part, these homeowners enjoy interest rates in the 3's, mostly fixed rates and no negative amortized loans eating away at their equity as they make a minimum payment.  For the last 8 years, over 85% of all loans have been a fixed rate loan, either 30, 15, or 10 years.  This bump up in the median price probably has as much to do with pricier homes selling, hence driving up the median price, but still very perky demand has kept prices close to and sometimes exceeding the asking price.  The January median price per square foot is $362.67, which does reflect desirability of a home and its location, as much as simple demand might indicate those as being unnecessary.  In fact, location and condition will always drive prices up or down.