what they dont say

Numbers can be worked out to say anything the powers want them to say.

However what they are neglecting to say is the following.

House xyz is on the market for auction price 700-730k.

The market is an open transparent place that determines actual values that people actually want to pay..so in other words "real value of property"
Back to the auction in question.

Bidding starts at $520k, has two more bids to $550k..then nothing...finally a vendor bid of $690k... of course no other bids happen, so the property gets passed in at $690k.

Then gets reported auction range $700-$730 passed in at $690... a false reporting...where in actual fact should be reported Auction range $700-$730 passed in at $550..thus not giving potential buyers the myth it was worth anything near what they want....

Time for transparancy...then we will see big % declines reported