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”.

Unquestionably there are many neighborhoods, towns, cities and states that have shown signs of strength during this real estate depression. There are neighborhoods in depressed cities whose home values have remained flat or even shown an increase in median price. Every state has cities that have bucked the trends and every city has neighborhoods that have. Think about the following information.

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.

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.

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.

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.

If you are in the market to Buy a Home then check out Rob Kosbergs’ Complete 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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