Don’t believe real estate headlines

Information overload. “News” is so freely available online that it is hard to know what to believe and what not to believe.

Take real estate-related headlines.

In my inbox this week I received articles with the following headlines:

“New-Home Sales Collapse in March” –  ABC News

“New-Home Sales Slump 11.4 Percent in March as Sales Tumble in Northeast and South” – ABC News

“New Home Sales Pull Back Off Seven-Year High In March” –  RTT News

All pretty scary right? Plunging sales?

Now consider this headline:

“New Home Sales Plunge 11.4% In March, But Rise Nearly 20% Year-Over-Year” –  Forbes

Ah the truth, new home sales, which are notoriously volatile, fell from February to March but were actually up 20% compared with March 2014.

And new home sales account for less than 10% of total home sales.

What is happening to sales of existing homes, which make up more than 90% of all sales?

“Home Sales Jump to Highest Level in 18 Months” –  NY Times

Click here for my report of the current market situation in Marblehead. The scary thing is not a misleading headline, but the real lack of inventory.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or [email protected].

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

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