REALTORS® are doing their best to combat media-driven Real Estate data by reminding clients that Real Estate is a local phenomenon. This helps to keep expectations realistic. After all, not all markets are seeing the deep discounts that many hard-hit areas are experiencing. But the flip side to the morose outlook the media has on the market is the silent evidence that isn’t getting the attention it deserves. While the data focusing on the drop in values since the peak is negative, and reported on daily, the drop in values from 10 years ago is quite the opposite. In fact, almost all major markets have seen gains in home values over the last 10 years even with the downturn.

Carol and Briggs Christie share data on the Real Estate market “crash”:

“No, our market has actually stayed pretty flat. Our median prices bounce around a little, but are pretty much at the same place they were in 2005. And people look at me like I’m from Mars. I’m a real estate professional and I don’t know that the world is crashing down around me? Have I not watched the NEWS!? Then I see data come out…yup, data. Not headlines that sell advertising or scream of unrealized terror, but just raw data compiled over a 10-year period. They looked at when the top 100 metropolitan areas peaked and started to turn and compared that number to the first quarter of this year as well as publishing the overall prices in those cities over the last decade. Are there some ugly spots? Sure. Detroit, for example, peaked in 2006 and has dropped 22 percent since then and shows only a 6 percent gain in the last ten years. That’s well behind every possible economic indicator and a certifiable disaster. Other cities, however, just don’t show that. Here are 10-year numbers for a select few areas that we’re told are suffering (data source is the Federal Housing Finance Agency).”

Combating media-driven Real Estate data is difficult when it is everywhere. But part of being a Real Estate professional is being a resource for the public, which means knowing what’s going on in your market now and how that compares to the past. This will hopefully shed light on what may happen in the future.

Click through to read the rest of Carol and Briggs Christie’s post.

Sign up for a free Featured Blog on Realtor.com today.

REALTORS® are doing their best to combat media-driven Real Estate data by reminding clients that Real Estate is a local phenomenon. This helps to keep expectations realistic. After all, not all markets are seeing the deep discounts that many hard-hit areas are experiencing. But the flip side to the morose outlook the media has on the market is the silent evidence that isn’t getting the attention it deserves. While the data focusing on the drop in values since the peak is negative, and reported on daily, the drop in values from 10 years ago is quite the opposite. In fact, almost all major markets have seen gains in home values over the last 10 years even with the downturn.

Carol and Briggs Christie share data on the Real Estate market “crash”:

“No, our market has actually stayed pretty flat. Our median prices bounce around a little, but are pretty much at the same place they were in 2005. And people look at me like I’m from Mars. I’m a real estate professional and I don’t know that the world is crashing down around me? Have I not watched the NEWS!? Then I see data come out…yup, data. Not headlines that sell advertising or scream of unrealized terror, but just raw data compiled over a 10-year period. They looked at when the top 100 metropolitan areas peaked and started to turn and compared that number to the first quarter of this year as well as publishing the overall prices in those cities over the last decade. Are there some ugly spots? Sure. Detroit, for example, peaked in 2006 and has dropped 22 percent since then and shows only a 6 percent gain in the last ten years. That’s well behind every possible economic indicator and a certifiable disaster. Other cities, however, just don’t show that. Here are 10-year numbers for a select few areas that we’re told are suffering (data source is the Federal Housing Finance Agency).”

Combating media-driven Real Estate data is difficult when it is everywhere. But part of being a Real Estate professional is being a resource for the public, which means knowing what’s going on in your market now and how that compares to the past. This will hopefully shed light on what may happen in the future.

Click through to read the rest of Carol and Briggs Christie’s post.

Sign up for a free Featured Blog on Realtor.com today.

“Have property values hit bottom? A lot depends on how long the recession lasts and its severity. Is the historic U.S. housing market crash close to being over, or is the end still far, far away? While sales finally seem to be stabilizing, prices still are likely to keep sinking well into next year and maybe longer. Prices have been cut in half in Las Vegas and Phoenix, according to one popular home price measurement. But statistics like these mask the many complexities involved in trying to measure U.S. home prices. Every home price gauge captures a somewhat different slice of the housing market, even when they all depict the same general trend.”