Real estate agents blog with news on realty foreclosures and the real estate markets nationwide
This Friday the National Association of Realtors will release it’s "Existing Home Sales Report," which will include data on last month’s median price. Generally, median price [the point at which half the homes sell for less, and half the homes sell for more] is considered a better indicator of market trends than is the average price. It is [...]
Lereah’s headline on today’s National Association of Realtors (NAR) press release was "Existing Home Sales Improve in January." All the Bloomberg pundits this morning were celebrating a 3.5% increase in existing home sales. According to my version of Excel though, January’s sales number of 6.46 million is LESS than last January’s 6.75 million. The 3.5% [...]
It’s Lereah Day.[1] Near the end of each month, NAR’s chief economist releases statistics on the previous month’s existing home sales. The Mainstream media avidly follows these numbers and Lereah’s (often hyper-optimistic) comments. The January analysis has just been released.[2]
MSM interpretations are coming in thick and fast. I’ve got a couple of links to these in the [...]