Literally 5 minutes ago on NBC Nightly News, they said an average of 10 major cities saw a decline in home prices of 11.4% from 1/07 to 1/08, and down 2.3% from 12/07 to 1/08. Then they said that the data is showing that the decline in home prices is accelerating.

Who picked the 10 major cities? Why didn't they pick one of the metro areas where prices were appreciating? I mean, only 67% percent of the 291 metro areas analyzed by RealtyTrac saw an increase in home values from 12/06 to 12/08, but I guess that's not important.

The story went onto say that the hardest hit areas were Las Vegas, San Diego, Pheonix, Miami, and Detroit were some of the hardest hit areas.

Then they said what I consider the most irresponsible statement: "Only one city in the country actually saw home prices rise...Charlotte, NC up 1.8% from the year before." Well, that is so odd, because Greenville, SC is also rising, and the time it takes to sell a home continues to fall.

Did they leave out anyone else's market???

Cameron Keegan
Greenville SC Homes
 

4 Comments on NBC Nightly News: "Only ONE city saw prices increase!"

Cameron, You know the old saying "If it doesn't bleed, it doesn't lead", made especially for television. Glad you're in a rising market.

03/25/2008 05:59 PM by Pat Preston (Shore Realty)

Yep, of course they left out plenty of markets--- but they have to have a doom catchline to get people to watch their show.

Wauwatosa Wisconsin is going up!

And that's just one I can think of without double checking the stats....

03/25/2008 06:12 PM by April Hayden-Munson Realtor, Southeastern Wisconsin (RE/MAX Realty 100)

I am sick of the media.  If they really wanted to report accurate news on the big topic of real estate they would create a segment (like sports, whether, etc.) for real estate.  Then get a real estate analyst from NAR to give an unbiased report on the condition of the real estate market, with a local area report for each state.  I think that would get higher ratings than their bul====t headlines.  Anyone who owns a home or plans to purchase one would tune in.  Sorry, didn't mean to go off, this is just a touchy subject for me.

03/25/2008 06:21 PM by Kathryn Tharp ~ Rancho Cucamonga Real Estate Specialist (Realtor)

 

NBC doesnt know that most of the countyry lives west of the Mississippi...

03/27/2008 09:44 AM by Summit Realty Group, Inc.

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Real Estate Agent: Cameron Keegan - Greenville SC Realtor (Prudential C. Dan Joyner)
Cameron Keegan - Greenville SC Realtor
Greenville, SC
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Prudential C. Dan Joyner

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