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Old 01-24-2019, 10:37 AM
 
Location: Middle of the ocean
29,254 posts, read 18,523,481 times
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Quote:
Originally Posted by TimtheGuy View Post
You don't find the headline of the article to be sensationalized?
No. It's a home resale report, and resale numbers fell. I don't get what is sensational about that.

It's something that is tracked monthly.
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Old 01-24-2019, 10:45 AM
 
Location: Houston, TX
13,844 posts, read 7,825,939 times
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Quote:
Originally Posted by Jowel View Post
This should be obvious, but the usefulness of this information for one's own situation diminishes the larger the scale of measurement becomes.

For the entire USA, this is only a snapshot of very, very aggregated data and may have absolutely nothing to do with market conditions where someone lays their head to rest.
Correct. NAR data doesn't mean jack in relationship to one's neighborhood or city. The Houston housing market is always great. Houses sell like hot cakes and they are putting up a new crappy cookie cutter housing subdivision every five seconds. The houses sometimes sell even before they are on the market. I don't see that changing unless we have another Great Depression. In contrast, the Ohio RE market is much slower. It depends on the area's economy. And houses sell very slow in December compared to July when the kids are out of school.
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Old 01-24-2019, 12:11 PM
 
10,068 posts, read 7,759,830 times
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Quote:
Originally Posted by davebarnes View Post
Dear GR,
You do understand “click bait”?
Are you disputing the numbers? They are what they are. No one is saying the bottom is falling out.
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Old 01-24-2019, 12:23 PM
 
67,435 posts, read 68,292,027 times
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It is not a question of the numbers being wrong .. the issue is that brokers from many parts of the country are finding the slow down is not lack of demand from buyers but just the fact that the desireable stuff has been sold and there is not much quality stuff to buy in many areas..

This is no different then when you get so low in unemployment numbers that what you have left is an undesirable bunch of unemployed left ...they talk about how they can’t find jobs but many may just be unemployable
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Old 01-24-2019, 12:31 PM
 
Location: Middle of the ocean
29,254 posts, read 18,523,481 times
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This had more info: https://www.prnewswire.com/news-rele...300782058.html
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Old 01-24-2019, 12:43 PM
 
Location: Round Rock, Texas
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Thank goodness I still think of my home as "the place where I live" rather than primarily an investment

because market rise or fall, my home still makes me happy!
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Old 01-24-2019, 12:47 PM
 
Location: Middle of the ocean
29,254 posts, read 18,523,481 times
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Quote:
Originally Posted by riaelise View Post
Thank goodness I still think of my home as "the place where I live" rather than primarily an investment

because market rise or fall, my home still makes me happy!

If your not looking at buying and selling, all of the numbers mean nothing. Heck, they don't mean a lot if you are buying and selling is specific areas, but it still good to keep an eye on overall trends (IMO) when you are.
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Old 01-24-2019, 02:21 PM
 
Location: Texas or Cascais, Portugal
3,209 posts, read 2,998,670 times
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Quote:
Originally Posted by Mikala43 View Post
If your not looking at buying and selling, all of the numbers mean nothing. Heck, they don't mean a lot if you are buying and selling is specific areas, but it still good to keep an eye on overall trends (IMO) when you are.
Agree. I love my house but when I look at current markets in other cities I would consider relocating to, I see over inflated pricing that I would not be willing to pay. They say home prices have been far exceeding income and I have to agree. Though I may be able to afford the kind of home I am accustomed in other cities, I cannot rationalize paying over 500k for a cookie cutter box with no real appeal. If I were to relocate in the U.S. I would likely rent, rather than buy something over priced and lacking quality.
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Old 01-24-2019, 02:50 PM
 
Location: Raleigh NC
8,232 posts, read 6,483,531 times
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Quote:
Originally Posted by Mikala43 View Post
Absolutely none. But isn't this 1 piece of all the information you should have / consider / review?
if we could get them to draw the proper conclusion, rather than concluding and then using the data to that end, then I frequently look at quarterly, 6 month, annual trends. But it's pretty easy to have "good" and "bad" months, and thus a single month of data is rarely of value.

If we sell 1,000 homes/mo and thus 3,000 per quarter .... an October with 1,000, November with 800 and December with 1,200 ... is there anything remarkable in there to you? But November's sales were TWENTY FIVE PERCENT OFF and December's were UP BY FIFTY PERCENT!!!
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Old 01-24-2019, 08:11 PM
 
Location: Raleigh NC
8,232 posts, read 6,483,531 times
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Quote:
Originally Posted by Mikala43 View Post
that's the actual and entire press release from NAR, which all the other media outlets cobbled/edited from.
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