Existing-home sales fall to 10-year low - How do they know?
Many foreclosures aren’t included in the data at all because they are not sold through the Realtors’ multiple-listing service.
Existing-home sales fall 2.6% to 10-year low - MarketWatch.
If up to 60% of home sales in places like Sacramento and Las Vegas are foreclosures what good is the data from this report? Sacramento and Las Vegas are showing significant year-over-year sales gains.
I write about Las Vegas and Sacramento markets because I am following the real estate trends in those two areas. The quote I pulled above makes me wonder if the sales data has any correlation in reality. How many othe areas are having a significant proportion of sales not show up in the national data?
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Tim , Micro Macro the markets are very area sensitive.
Case Shiller is what to really watch. As a Realtor NAR reports
should be heard but sometimes just scratch your head and
say what !!!! Believe me I am working very hard for very little results.
Even those glorious selling foreclosures– not so.
My aching check book shows the really score. Tim I realize I missed out on the divies and now must !!! set up a 1/4 portion to start paying us . I can work with only 1/4 have now on. I hope others are listening.
Cheers DuffBeer