National TV and radio stories talk about something called the national real estate market. We are hearing about a market that does not exist.
Without a doubt there are many states, cities and neighborhoods that have fared well during the real estate crisis. Some areas have seen real estate values stay flat while others have even seen a slight increase. The data differs from area to area so consider these facts.
Consider the latest American Housing Survey. It found that there are 124,377,000 homes in America spread across:
The information is collected from all 50 states as well as 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.
A local professional will know the market and will be better able to give you the information, “thumbs up” or “thumbs down “than any national media expert.
The idea of a national real estate market is a fallacy. The price of bread may be the same or similar from city to city but real estate is not. If you want local statistics, pursue the data locally.
If you are in the market to Buy a Home then Visit Rob Kosbergs’ Detailed FREE Guide on Buying your Dream Home with a Zero Down Mortgage or for up to date Mortgage info visit my Mortgage Blog
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