Rising Home Prices: It’s called Inflation, Not Recovery - 07/24/09 10:34 AM
From http://www.matthewferrara.com/rssfeed/homepriceinflation 
According to NAR and Radar Logic, home prices rose month-to-month from April to May in 10 cities in America, like Boston, Charlotte, Seattle and Denver. Words like “recovery” are used in the press release, because, at least from the Voice of REALTORS, the word “inflation” is off limits. Since the press release is just a snippet, it’s likely to be passed around without much analysis. Too bad, because it’s likely to mislead a lot of consumers.
Let’s just do a little math: According to the data, home prices rose around 3-5%. According to another report from NAR, the median sales price natiowide in … (4 comments)

REALTORS have left the Center Ring! - 07/07/09 08:30 AM
 
 
In one of the cruel ironies of the housing market today, the total number of units sold this year isn’t that far from historically normal volume. According to the National Association of REALTORS, the seasonally adjusted annual rate for sales in May is around 4.77 million - generally trending the pre-bubble long-term volume  for a typical year. Some segments continue to decline - such as housing starts - but it makes sense to stop adding more units to the million-plus excess inventory units available already. Clearing the excess inventory remains an important goal for the market. Only when supply … (7 comments)

Real Estate's Best Days are Ahead - 07/03/09 10:07 AM
 
“Reports of my death are greatly exaggerated,” So quipped Mark Twain after hearing his demise had been published in the New York Times. The same might be said today about the real estate industry. A lot of hullabaloo has been making its way through the web these days - the end of brands, numbered days for independent agents, consumers ready to do it on their own. Trouble is, it’s mostly punditry that supports these assertions. Certainly, real estate brokerage is under a lot of pressure to produce profits, cut costs and improve customer satisfaction these days. Even more likely is … (5 comments)

 
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Matthew Ferrara -- Matthew Ferrara & Company

Boston, MA

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