Unreliable Information about The 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".

There are many areas, cities and even whole states that have remained strong during the present real estate crisis. There are cities in hard hit states that have seen their home values remain relatively flat or even increase slightly. And, of course, there are some neighborhoods within cities that have outperformed others. When thinking of the real estate market remember this.

There are 124,377,000 homes in the United States according to the most current American Housing Survey. These homes are within:

The data is based on all 50 states and there are too many neighborhoods to count with more than 30,000 incorporated cities.

These 124 million homes get bunched together by the media and we hear the analysis of the undifferentiated clump of homes. These national statistics are not "one size fits all." The market in Pocatello, will be different than the market in Boulder. National statistics are not helpful.

To get real estate analysis that matters, look local instead. And I don't mean stats from your state -- I mean stats from your neighborhood. It's the only way to know what's driving home prices on your street.

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.

Your neighborhood real estate professional, who knows your market can provide a much clearer picture, positive or negative, of your locality than the national media.

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.