Charlottesville People – Do you Care What the National Association of Realtors Say?

I know I’m a broken record. I get a tremendous amount of value from the National Association of Realtors – from their publications (On Common Ground is tremendous), to the lobbying they do to the information they share … but as far as home sales data and projections, I don’t understand why there is so much gnashing of teeth and complaining about the NAR’s projections and data. The NAR is a trade organization for Realtors. I’m not bashing the NAR, but I would like to see their analysis put in the appropriate context.

Understanding the Charlottesville area real estate market is a full-time job – representing buyers and sellers, analyzing the market, etc.; making sense of the nation’s housing market – I’d go so far as to say it’s impossible to do accurately or credibly.

For a brief summary of where we are in Charlottesville:

Nest’s January 2012 Real Estate Summary

Nest’s 2012 Annual Report

And the “Market Statistics” category in RealCentralVA. Or, better yet, if you have a question about the market, start your research looking at the broader market statistics and then, ask me.

To see the responses to the title question from those on Twitter, read the rest of the story.

Lawrence Yun is Right (My take on the NAR’s Revisions)

“From a consumer’s perspective, only the local market information matters and there are no changes to local multiple listing service (MLS) data or local supply-and-demand balance, or to local home prices,” Yun explained. (business insider)

True. Ignore the NAR. Read local real estate analysis.

If you’re looking for insight into and analysis about the Charlottesville area real estate market, start here.

Realtor.com’s App Rocks – So Say I & my Clients

Belmont homes on Realtor.com

Say you want to know what houses are for sale in a certain, undefined area around Crozet Park. I never thought I’d say such nice things about Realtor.com. I’ve written a few things about them over the years, and while I still have issues with their AVM and a few other things, the Realtor.com App […]

Real Estate Data and Analysis is Local. And always will be

If you haven’t been paying attention to the national real estate data world for the past week, you might have missed the National Association of Realtors responding to claims that it has been inflating housing sales .

…While some I have spoken with today call the claim by CoreLogic (a housing data provider) that the Realtors overestimated home sales in 2010 by almost 1.5 million, “overblown,” the Realtors themselves admit there is a problem.

… This is a big and important conversation because the NAR’s data, along with Case Schiller, are important, widely read, and depended on by many to ascertain the psychology of buyers, sellers – real estate consumers.

…I’ve said it before, when you’re evaluating the Charlottesville real estate market, ignore the national data ; it will only cloud your opinion .