Inaccurate Sources For Locating Information About A Local Real Estate Market
Americans are hearing and seeing TV stories regarding the national real estate market. Such a national market does not exist.
There are 124,377,000 homes in the United States according to the most current American Housing Survey. These homes are within:
- 50 states, with
- More than 30,000 incorporated cities, and with
- An innumerable number of neighborhoods
Our media clumps the 124 million homes in a huge group and attempts to analyze their data. It doesn’t matter one iota how the media presents this because houses in Los Angeles can’t be compared to houses in Pittsburgh.
To get real estate analysis that matters, look local instead. And I don’t mean stats from your state — I mean stats from your neighborhood. It’s the only way to know what’s driving home prices on your street.
The media doesn’t report small markets. Consult your neighborhood real estate agent or someone with access to the data. The professional can provide a better picture of what is driving your neighborhood market.
By talking to “in the market” professionals that know your backyard, you’ll get a much clearer picture of your local market — good or bad — than the national media could ever provide.
Real estate is a local market so your real estate data should be local, too.
Tags: Short Sales
