The Worst Places To Find Local Real Estate Information
Americans are hearing and seeing TV stories regarding the national real estate market. Such a national market 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.
A national survey called the American Housing Survey most recently concludes that there are 124,377,000 homes which are in:
The data is based on all 50 states and there are too many neighborhoods to count with more than 30,000 incorporated cities.
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.
If you want useful data, you need to find the local real estate analysis. You will want data from your specific neighborhood, not the entire state. This data will show what drives the local 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 local 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.
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.