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Mixed Reports Add To Confusion On the State of Real Estate

I am different . When the stock market is up some of my largest personal investments, municipal bonds ,head down. I always question what the news reports on our business really mean. I may be a skeptic, but in this economy you have to be. And I keep reading that sales are up nationally for homes. Are they really? Are they talking quantities? Ie....Are the number of sales up and the dollar volume down because those sales are composed of lower priced first time buyers using FHA and taking advantage of the tax incentive? Probably. So if the numbers are up , but the dollar volume down ....Are things better? Worse? The same? Or unknown? I am tempted to choose to go with Unknown. How do you chose to rate our business right now?

Have a prosperous week!

Trey

Posted by Trey Thurmond, College Station , Texas Homes on 07/25/2009 04:41 PM

Comments (8)

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8 Comments on Mixed Reports Add To Confusion On the State of Real Estate

JUL

2009

Trey,

You may be skeptic, but the market is septic! It's infected. What we're seeing is artificially low, it can't be sustained!

With that said thinking people should be buying! Thinking home owners should get every loan concession they can! It never hurts to ask. Investors should be investing! For surly buying today is better than renting tomorrow!

Bill

Trey...This is the best time to buy, but many people are scarred outof their minds by the media. It is a gamble, but one worth taking!

Trey - You are so right! I read one report that talks about the increased number of new home housing starts. Then I read another report stating we are down 22% in sales prices from last year. It's beginning to take a rocket scientist to analyze, digest, and regurgitate the facts. Or maybe we shouldn't call them "facts" - there are only "versions."

JUL

2009

If your a buyer you sure are better off, for sellers it depends on when you bought. I know people who paid in the 100-150k range and are complaining about their home value going down to 300k go figure. and yes if you bought in the last year or two or three your screwed for now but as always the market will turn.

I think the tightening of credit is the bigger problem

Trey,

I like Bill's line above: Buying today is surely better than renting tomorrow. Thanks for the post.

Mike in Tucson

Trey - it is definitely a mixed message out there. NAR is trying to put as positive a spin on things as possible while much of the media is looking to do just the opposite. Sales and prices are down year to year, and that is the big measurement. Last year July's home sales increase over Junes, will it happen again this year? And is it meaningful? What will July be this year compared to last year? NAR was still predicting growth in sales at this time last year. We all know how that went.

Trey: I hate hearing national real estate stats. We all know real estate is local. My market is crazy busy and seeing increases. But so many market locally are not in the same state. For the most reliable numbers, folks should look to their local Realtor.

JUL

2009

Hi Trey... Very little in life is absolute. Learning how to filter information is something all of us need to get better at when there are so many conflicting messages in the media.

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Trey Thurmond, College Station , Texas Homes

College Station, TX

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Brazosland Classic Realty

Address: 700 University Drive East Suite 108, College Station, Tx, 77840

Office Phone: (979) 694-8844 x 110

Cell Phone: (979) 229-8465

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