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But you'll NEVER get that accurate picture from the NAR. You'll get MEDIAN SALES UP 11%......what a crock of crap.
Unless they cited each state and each metro area (which they cannot), they will only be able to give you generalized numbers
For each area (and real estate is a local thing), you should go to each state association and then to each local association for their specific numbers
Hi Greatday - they sure don't! I found the monthly inventory stats - can you please explain why they don't have the sales price data? (Guessing they get their info straight from MLS, but are there other reasons?) Thank you!
Hobby? I just happen to post on this website like you and everyone else.
Its not "bashing" when they continue to spin information and provide false hope. For instance, they posted that the median price of homes in Charlotte is UP 11% YOY. That would imply a robust market, correct? Well, I can tell you because I live here that average home prices are down YOY and sales are down 23% YOY. Builders are laying off people left and right. There is TONS of inventory (new, spec, & resale). Resi projects are taking extremely long to complete because there are very few qualified buyers...
But you'll NEVER get that accurate picture from the NAR. You'll get MEDIAN SALES UP 11%......what a crock of crap.
look at some accurate #'s from NC and you'll see what I mean..
Look, I understand what they are doing, I really get it. But for you to blindly defend what they are spinning is rediculous.
Actually consumers care about price. Realtors care about volume. And in general I care only about resale volume because I seldom do new build.
So the consumer gets told price is up. That is what he wants to know. If actually interested in selling there are certianly other things of interest...but for the random newspaper or internet reader that is what they want to know.
I think the local realtors provide what you want and they are part and parcel of NAR. Just work at a lower level of detail.
Now if you can find NAR prognistaicating that there will be a pickup in the spring or something...that would be spinning and likely wrong. But telling people who only care about price that price is up or down sounds reasonable to me.
Hi Greatday - they sure don't! I found the monthly inventory stats - can you please explain why they don't have the sales price data? (Guessing they get their info straight from MLS, but are there other reasons?) Thank you!
You noted why - the MLS. New homes builders report their sales (and inventory) totally different - and typically, new homes are not in the MLS
Actually consumers care about price. Realtors care about volume. And in general I care only about resale volume because I seldom do new build.
So the consumer gets told price is up. That is what he wants to know. If actually interested in selling there are certianly other things of interest...but for the random newspaper or internet reader that is what they want to know.
I think the local realtors provide what you want and they are part and parcel of NAR. Just work at a lower level of detail.
Now if you can find NAR prognistaicating that there will be a pickup in the spring or something...that would be spinning and likely wrong. But telling people who only care about price that price is up or down sounds reasonable to me.
Olecapt, consumer's caring about "price" has nothing to do with this debate. And it a silly question to ask anyway. Everyone cares about price.
Lets get back to the topic. The debate is whether Yun is misleading the public by using median prices as an accurate gauge and also by his comments: "Home prices in the vast midsection of America, from the Appalachians to the Rockies, are affordable and, perhaps, even undervalued". ("Undervalued?" compared to what? NYC?)
You and the NAR believe its an accurate measure (median home prices), I do not. I say looking at # of units sold and inventory levels are way more accurate. I'm providing some easy to understand references on why its misleading to use this tactic that the NAR is so accustomed to using.
What is a Median Home Price ? | DoItYourself.com (broken link)
What you consistently fail to acknowledge is that the NAR is a professional organization that has a primary duty to it's membership. It is NOT a government entity of any type. It is NOT obligated to express your viewpoint. Like all professional organizations it must stand up for it's members, particularly when they are down. The AMA issues statements about medical and insurance issues, bar associations issue statements about legal matters, and like all good professional organizations, the NAR issues statements about housing. Take it or leave it.
Frankly I would hate to be around when they issue the doom and gloom statements you think they should. You want to see a market really sink...
Olecapt, consumer's caring about "price" has nothing to do with this debate. And it a silly question to ask anyway. Everyone cares about price.
Lets get back to the topic. The debate is whether Yun is misleading the public by using median prices as an accurate gauge and also by his comments: "Home prices in the vast midsection of America, from the Appalachians to the Rockies, are affordable and, perhaps, even undervalued". ("Undervalued?" compared to what? NYC?)
You and the NAR believe its an accurate measure (median home prices), I do not. I say looking at # of units sold and inventory levels are way more accurate. I'm providing some easy to understand references on why its misleading to use this tactic that the NAR is so accustomed to using.
What is a Median Home Price ? | DoItYourself.com (broken link)
Again more nonsense. I don't care what the median price is. I don't listen to NAR in terms of what I do. In fact for my own work I use a mean of the middle 80%. I don't care what is going on in the fringe I want the middle. And I prefer the mean as it provides a more sensitive indicator of trends.
NAR provides certain simplistic answers that the general public cares about. There are much better sources for those who work at it.
I will however admit that I suggest the "official" number for the price of RE in Las Vegas is the GLVAR median price of a SFR. The only thing I think it is good for is the level and direction of price. But it is the ONLY good number there is. SKo you want to know what is happening on price...that is the one.
What you consistently fail to acknowledge is that the NAR is a professional organization that has a primary duty to it's membership. It is NOT a government entity of any type. It is NOT obligated to express your viewpoint. Like all professional organizations it must stand up for it's members, particularly when they are down. The AMA issues statements about medical and insurance issues, bar associations issue statements about legal matters, and like all good professional organizations, the NAR issues statements about housing. Take it or leave it.
Frankly I would hate to be around when they issue the doom and gloom statements you think they should. You want to see a market really sink...
Who's viewpoint do you think is more accurate? I mean honestly??
If you say the NAR, then I know your drinking the kool-aid....
Look, I know they have to play the game and blindly issue positive news no matter what, but its such a joke everytime Yun opens his mouth...I really don't know how this guy wakes up in the morning and is comfortable w/himself...
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