About Jonathan Miller

Miller is President and CEO of Miller Samuel Inc., a leading real estate appraisal and consulting firm. A well-regarded real estate commentator, who appears in national publications including the Wall Street Journal and the NY Times covering national and regional housing issues, he has been named “Best Online Real Estate Expert" by Money Magazine. Miller’s stringent focus on neutrality has contributed to his position as one of the top 25 most influential real estate bloggers in the U.S.

The Case Shiller Analysis Paralysis

June 24, 2011  |  by Jonathan Miller

Every day, it seems, a new report is released on the state of the housing market. It’s up, it’s down. It’s good, it’s bad, and it’s confusing. For most people, even with access to all this information, the results are more inconsistent than ever, often dated and out of context. But they don’t have to be. This is a rant:... Continue Reading

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Providing Market Context Using Price And Discount Trends

June 17, 2011  |  by Jonathan Miller

Using RBI’s robust market data, I set out to provide some context for state of the Washington, DC metro area housing market today by showing how we got here. I wanted to show the relationship between the year-over-year change in average sales price and the listing discount (the % change between the original list price and the sales price). In... Continue Reading

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RBI Pending Home Sales Index: The Seasons Return

June 14, 2011  |  by Jonathan Miller

We just released the RBI Pending Home Sales Index for both the Washington, DC metro area and the Baltimore metro area. Check back here on the 10th of each month for the latest editions. For the first time in several years, the spring/early summer market has been performing consistently with historical patterns as opposed to some sort of manic trend... Continue Reading

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Metro DC/Case Shiller Disconnect (Part III of III): Prices Lag Sales

June 3, 2011  |  by Jonathan Miller

Prices Lag Sales This is the third of a three part series on the disconnect between the Case Shiller Index for DC and what is happening in the current market. In the chart above, I compared price trends that were reported in May for both the RBI Pending Home Sale Index and the S&P/Case Shiller Home Price Index for “Washington,... Continue Reading

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Metro DC/Case Shiller Disconnect (Part II of III): Seasons

June 3, 2011  |  by Jonathan Miller

Seasons This is the second of a three part series on the disconnect between the Case Shiller Index for DC and what is happening in the current market. In the chart above, I compared price trends that were reported in May for both the RBI Median Sales Price Index and the S&P/Case Shiller Home Price Index for “Washington, DC”. Both... Continue Reading

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Metro DC/Case Shiller Disconnect (Part I of III): Timing

June 2, 2011  |  by Jonathan Miller

Timing This is the first of a three part series on the disconnect between the Case Shiller Index for DC and what is happening in the current market. The other day I presented my frustration with the disconnect that some national housing indexes have with local housing markets and how it helps form inaccurate real estate consumer confidence. Namely the... Continue Reading

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Funny thing is, Case Shiller Doesn’t Reflect The Washington, DC Metro Area Housing Market

May 31, 2011  |  by Jonathan Miller

The much anticipated monthly S&P/Case Shiller Home Price Index was released today and the results are important, not because it provides an accurate description of the current housing market (it doesn’t), but because it forms a foundation for consumer sentiment on the housing market. I selected a few of the 20 cities in the chart above – DC and New... Continue Reading

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April 2011 RBI Pending Home Sales Index Released – Washington, D.C. and Baltimore Metro Areas

May 10, 2011  |  by Jonathan Miller

The April RBI Pending Home Sales Index reports were just released – take a look: RBI Pending Home Sales Index [Washington, D.C Metro Area] – Open Report April buyers and sellers in the Washington, D.C. metro area signed 5,170 purchase contracts, the second highest April since 2006. The total was second only to the April 2010 surge in activity related... Continue Reading

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NAR Pending Home Sales Jump 34.1% In March As DC Outperforms Nation

April 29, 2011  |  by Jonathan Miller

The National Association of Realtors released their Pending Home Sales Index that showed a 5.1% increase in contract signings. However, this number doesn’t reflect what is actually happening because they adjust for seasonality. And unless you’ve been living in a dark cave for the past year, you’ll know that the federal homebuyers tax credit wreaked havoc on the housing stats... Continue Reading

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Will The Government Also Shut Down The Housing Market?

April 9, 2011  |  by Jonathan Miller

Well tonight’s the night. As I sit here watching television, it reminds me of seeing a New Year’s Eve countdown – anticipating the midnight hour and the start of a fresh new year, one that brings promise, hope and change, and of course, fiscally prudent resolutions. And then there’s the federal government budget impasse. For weeks both political parties have... Continue Reading

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