Has snow impacted the January real estate market? In the wild west of today’s information overload, we must reject deceptive and hysterical headlines. To answer this question without looking at the numbers would be just guessing. We need the data–reliable data with referenced sources so we can judge for ourselves.
The Wall Street Journal article, Another Bogus Real Estate Market Statistic discusses this issue in depth. I am sick and tired, tired and sick of seeing handsome charts with ridiculous data.
The real estate web site Zillow ginned up a real doozy of a statistic about the state of the real estate market today arguing that the “Zillow Home Value Index has now fallen 26% since its peak in June 2006. That’s more than the 25.9% decline in the Depression-era years between 1928 and 1933.” ~Wall Street Journal, Jan 2011
From the horse’s mouth as opposed to the horse’s rear, the Multiple Listing Service Property Information Network (MLS) offers excellent data.
Go to www.YourNewtonMove.com To receive the Pathway Home Realty Group eReport: Twelve Years Real Estate Sales Summary, Newton and Brookline, 1998-2010.