Inaccurate Sources For Locating Information About A Local Real Estate Market
National TV and radio stories talk about something called the national real estate market. We are hearing about a market that does not exist.
Consider the latest American Housing Survey. It found that there are 124,377,000 homes in America spread across:
– 50 states
– Incorporated cities numbering more than 30,000 and
– Innumerable local 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.
National real estate statistics are not useful.
Look at a “local” real estate analysis for useful information. I’m referring to statistics from your “neighborhood” not your state. This is the best way to learn what is driving your neighborhood market.
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 statistics for a local market should be local.