Inaccurate Sources For Locating Information About A Local Real Estate Market
Stories on TV about the national real estate market are misleading to Americans. This is because there is no such thing as a “national real estate market”.
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.
However, it can be difficult to locate the needed information. The media won’t tell you about such a small area. Therefore, consult a local real estate agent or someone who can get the raw data for information.
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.
If you want local statistics, pursue the data locally.
