Locating Data on A Local Real Estate Market Often Done In An Unreliable Manner

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”.

A national survey called the American Housing Survey most recently concludes that there are 124,377,000 homes which are in:

- 50 states
- Incorporated cities numbering more than 30,000 and
- Innumerable local neighborhoods

And yet, the media repeatedly groups all 124 million homes into one giant lump and then gives an analysis. No matter how you slice and dice the data, a home in Oregon can’t be compared to a home in Mississippi. This is why national real estate statistics are somewhat useless.

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.

Real estate statistics for a local market should be local.