Why Home Price Reports Are Irrelevant

This is actually a rather frank and honest assessment by a Real Estate Reporter about Real Estate reporting.  You’ve gotta love honesty and the media admission about hype – it is a job after all and we’re all glad when we have one of those!

The report reads:

We are already selling homes at the third worst pace on record, and that was including a 10 percent monthly bump up from August to September.

If sales plunge, inventories rise, and when inventories rise, prices fall.

Do they fall everywhere? No. Is all real estate local? Yes. And that’s especially why I can’t stand these “national” home price reports. And yes, I recognize the contradiction … that I will continue to report these price surveys on TV several times over. It’s a living.

————

Yes, all real estate is local or should that be “relative”

InDeed,

Larry

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: