That’s why I get my current market data from piggington and Bob C. I speak with him regularly about the market. You really need to work with a good realtor like Bob to keep yourself in the know. The media lags by one year. The DataQuick and NAR reports lag by 3 months. And they don’t give you the whole story.
DataQuick was showing median price rising until just last month, whereas I knew from Bob C. that the low end stopped rising in 2004 and the mid and high end in 2005. When the market turns back up, the realtors will know. The media will still write that RE is dead for one year after the market has turned.
Look at inventory, DOM, HAI (home affordability index), and stay in touch with a realtor to help you figure out the proper market price and make good negotiations. A good realtor is worth their fee. I am now convinced that a good realtor is essential in structuring a good deal. Unless you have your own MLS access and can make the necessary research. Two big IFs.
