Does Conflicting News About The Housing Market Confuse You?
Well, It does me.
Not a day goes by when someone says,
"Did you hear .......?"
Oh sure, I have heard, and sometimes what I hear confuses me!
I am a self admitted news junkie. I try to stay very current on what the news media reports about the real estate market. Super focused on the local market, yet sometimes, it makes me scratch my head.
For those that do not have a front row seat to the real estate show, are these conflicting reports giving folks the wrong idea?
Eye catching headlines can be misleading.
An example. There are times when I will hear or read a media market report touting the speed or lag in real estate sales, while myself and coworkers are experiencing just the opposite. I know that the facts that they are basing this particular news clip on is closed sales, which is old news when one factors that the offers on a property are accepted in general 45 - 60 days ahead of close. Using closed sales to deliver up to the minute activity can often be misleading.
Another example. I got these two Headline reports in an email this afternoon.
"Another All-Time High for Massachusetts Pending Home Sales in May", and, in the same email, another headline that read, "Jump in New Listings a Positive Sign as Massachusetts Home Sales Down Again in April".
Call me crazy, but in my quick glance whatI see is,
- All time High, in one
- and Home sales down in the other.
Both clearly are trying to relay positive info, but confusing.
In my market area, there is no question the market has shiftedfrom an extreme buyers market, to a more stable and in some communities an extreme sellers market. Some being the key word. I think most people are aware of that. They are aware that there are multiple offers on homes and some homes selling for more than the asking price.
But not all homes! News reports can lead one to believe that it's time for a seller to price their home aggressively and have all kinds of bonafide offers knocking at their doors. Not so fast, not so simple!
In our quest for up to the minute and more, more, more info, we are inundated with studies and reports in every field imaginable. We hear reports and stats on how and what we should eat, to how we exercise to what flowers are best planted in certain climate, how we should decorate or homes and write our wills.
All info good. A lot contradicting and confusing.
Real Estate is no different,
but if you want to really know what's happening in your market area, consult your local Realtor!
Give me a call if you have a question about the market.
Put my 25 years of experience to work for you!