A 0.6% decline looks modest, but the composition of this sample concerns me. It covers Los Angeles student housing from $492,000 to $738,000, with a median marketing period of 56 days, and differences in condition and neighbourhood may be driving more of the result than price direction.
Rather than treating the movement as seasonal or structural immediately, I would compare completed deals with the dates of reductions, withdrawals and competing launches. Buyer financing may also split the range into distinct groups.
Energy performance is another possible risk rather than just a negotiating point. If high expected running costs cause buyers to reject a property outright, a small discount may not solve the problem. Has anyone seen recent buyers in this range bargain over that issue, or do they usually choose a better-performing alternative?
Rather than treating the movement as seasonal or structural immediately, I would compare completed deals with the dates of reductions, withdrawals and competing launches. Buyer financing may also split the range into distinct groups.
Energy performance is another possible risk rather than just a negotiating point. If high expected running costs cause buyers to reject a property outright, a small discount may not solve the problem. Has anyone seen recent buyers in this range bargain over that issue, or do they usually choose a better-performing alternative?