Understanding the real estate market today and where it might be going depends on you hearing todays show!
Today, let’s talk about what recent real estate data is telling us. What is most surprising is that what I am seeing does NOT follow with what is the conventional wisdom in the press. What we are being told is that prices are way up and that this trend is likely to continue. Well, in todays show we are going to look at some data that will leave you thinking todays big headlines just might not be on the mark.
We will start with a discussion of two very telling data points – the average price for homes in my local market of Morgan Hill,CA and the average percent of asking price that homes are currently selling for. I think that this alone will surprise you – but what will really knock you off your feet is when we look at those numbers in the context of todays inventory compared to the same time last year. Once you do, it will be hard to conclude that the headlines we have been seeing have gotten it right!
If you prefer to view the video edition of this episode of Real Estate Realities, you can find that on my youtube channel.
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