National TV and radio stories talk about something called the national real estate market. We are hearing about a market that does not exist.

There are many areas, cities and even whole states that have remained strong during the present real estate crisis. There are cities in hard hit states that have seen their home values remain relatively flat or even increase slightly. And, of course, there are some neighborhoods within cities that have outperformed others. When thinking of the real estate market remember this.

There are 124,377,000 homes in the United States according to the most current American Housing Survey. These homes are within:

The information is collected from all 50 states as well as Incorporated cities numbering more than 30,000 and Innumerable local neighborhoods.

And yet, the media repeatedly groups all 124 million homes into one giant lump and then gives an analysis. No matter how you slice and dice the data, a home in Oregon can’t be compared to a home in Mississippi. This is why national real estate statistics are somewhat useless.

National real estate statistics are not useful. Look at a “local” real estate analysis for useful information. I’m referring to statistics from your “neighborhood” not your state. This is the best way to learn what is driving your neighborhood market.

However, it can be difficult to locate the needed information. The media won’t tell you about such a small area. Therefore, consult a local real estate agent or someone who can get the raw data for information.

Your neighborhood real estate professional, who knows your market can provide a much clearer picture, positive or negative, of your locality than the national media.

Remember, real estate is unlike a gallon of gas. Gas may be similar from state to state but not real estate. Don’t worry about the stories you hear on national media. Real estate is a local market so your real estate data should be local, too.

If you are in the early stages to Buy a Home then check out Rob Kosbergs’ Detailed FREE Guide on Buying your Dream Home with a Zero Down Mortgage or for up to date Mortgage info visit my Mortgage Blog

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