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Americans are hearing and seeing TV stories regarding the national real estate market. Such a national market does not exist.
Americans are hearing and seeing TV stories regarding the national real estate market. Such a national market does not exist. 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. 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. A local professional will know the market and will be better able to give you the information, "thumbs up" or "thumbs down "than any national media expert. 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. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. If you are in the market to Buy a Home then check out Rob Kosbergs' Detailed FREE Report on Buying your Dream Home with a Zero Down Mortgage or for up to date Mortgage info visit my Mortgage Blog |