The Wild West of Real Estate Statistics!

Real Estate Agent with Keller Williams Realty

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. Horse Brookline Newton Go to To receive the Pathway Home Realty Group eReport: Twelve Years Real Estate Sales Summary, Newton and Brookline, 1998-2010. []Twelve Year Newton Single Families Sales Summary

Comments (3)

Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Wow -- it is very frustrating when zillow and others come up with incorrect information.  Glad you were able to set the record straight.

Feb 12, 2011 11:56 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Janet.

Many Internet Sites paint the entire USA with a broad brush.  They forget that "Real Estate is Local".

Zillow says "Sales and Prices are Down".  Tell that to people in the Washington DC area, where prices are Up.

NAR says "Sales and Prices are Up".   Tell that to Condo Owners in Florida,  where many areas have seen a 50% drop in prices since 2006.



Feb 12, 2011 01:53 PM
Janet Porcaro
Keller Williams Realty - Newton, MA
Janet Porcaro

Doesn't it make you crazy! As the Wall Street Journal article said, Zillow can be a starting point for determining market value but there is a lot more to the process. Finding solds that are in close proximity and of the same style. There is no magic formula. Thanks for the supporting comments!

Feb 13, 2011 02:06 AM