This Sunday’s New York Times included a piece from the Editorial Board about the seemingly incongruent housing statistics that keep coming out in industry reports. More buyers have come out of the woodwork in recent months, but many worry that was just a temporary surge of people who wanted to stay ahead of the rising interest rates. Inventory is not as tight as it was at the beginning of the year, yet homes in price ranges that first-time buyers can afford are still in short supply for most of the popular markets around the country. In short, the editorial claims, we can’t sit back and relax just yet. Click here to read the piece on the New York Times website.
Similarly, the real estate search engine Trulia announced last week that they are retiring their monthly Housing Barometer because it no longer takes an accurate measurement of whether or not the real estate market is getting healthier. As the author explains:
“When we titled the first Housing Barometer post “Are we there yet?”, the answer was clearly “no.” Now, “are we there yet?” is no longer a yes-or-no question: the answer is yes and no, depending on which aspect of the housing recovery you look at.”
RealEstate Business Intelligence (RBI) recently posted on the subject for the RBI Blog. We encourage you to check out their findings. Click here to read their post “on Is the DC Metro housing market “there” yet?”
Since every market is different, we want to hear from our MRIS customers who are watching this at the front lines every day. What signs do you look for to decide whether or not housing has recovered in your region? Have you seen a shift, either positive or negative, in the measurements you rely on? Please let us know in the comments.