I saw it. I knew it. I even messaged about it here on this board. Typical. Just an association trying to make itself look good, but reality is setting in. Here in KC, there are over 26,000 homes for sale, including foreclosures, and in January of this year, only 1,200 sold.
http://www.reeceandnichols.com/pages/market-trends/market-trends-kc
You can see on this graph where the tax credit stopped. Sales are very low here, and flat. May be the same in most other areas of the U.S.
Now, they say that new home building is up 15%.
http://www.msnbc.msn.com/id/41618624/
Too much “forecasting” causing inflated figures, then reality sets in, and figures get revised. Sad how things are no longer what they really are. Media is pumping what they want.
Frankly, I think the motivation behind most of their hype is not so much to lie to consumers as it is to keep the part time used house salesmen (who makes up about 80% of the sales force) from bailing out of the industry and returning to their former jobs of selling vacuum cleaners, mens’ suits, and the like. Without the members paying dues…how do they finance their agenda?
I have heard that over 2,000 RE agents in eastern Kansas and western Missouri did not renew their RE licenses.
http://www.msnbc.msn.com/id/41715313/ns/business-real_estate/
Article out today just confirms our thoughts.
They are struggling to conceal the fact that we are about to see another sharp drop in the value of residential dwellings this summer. By the end of this year, the glut of available housing will be bigger than it is, now.
Good. Drop prices some more. We’re almost about right.
Condolences to those who made stock market moves based on NAR’s B.S. data, but hang in there, InterNACHI is surveying members about the number of inspections they do each week and will be releasing it’s own monthly index soon.
Agreed.
Inspectors don’t work on commission.
Our new index will be the ultimate leading indicator.
Bloomberg will be publishing it each month.
I have several friends and relatives who call me often to ask how my business is doing. They base their investments on how my business is for the previous month from past years. It is amazing how it trends reality, and not by what the media says.
So far this month, February, up slightly from 2010, but not by much. If oil hits $120 a barrel, give me directions to the soup line.
Not if,****but when!
You must be kidding!!! Like that will be accurate data!
It’s very accurate. No one puts out hundreds of dollars for a home inspection unless they are intending to buy a home. We capture this information long before closed transactions data comes out.
Assuming you’ll get honest answers from inspectors surveyed.
- Chicago-area home vacancy rate jumped to 4.3% in the fourth quarter, the highest level since the U.S. Census began tracking the data in 1996. The rate had hovered around 3.1% since fourth-quarter 2009.*
Many are moving south.
If you get enough people to honestly tell you how many inspections a week they are doing you might be able to look at trends. But while many of my colleagues are in dire straights I have been working 5, 6 & 7 days a week since the middle of January.
My point being, each Inspector will have different numbers based on his/her ability to market themselves & how well they have established themselves in their local market. You also have to keep in mind that many Home Buyers still opt out of inspections, although that number is constantly decreasing as time moves forward.
Oh good, because if you asked me, I did 75 inspections last month.:roll: