How's the Market?
How's the Real Estate Market?
It depends. All real estate is local.
When it comes to examining the real estate market, there are many factors that come into play. In fact, there are so many variables involved with determining the health of the real estate market that it is important to note that there is no such thing as a ìnational real estate market.î Rather, every locality has its own market, which needs to be examined and explored in order to determine the health of the real estate market in that locality.
While the media often makes it seem as if there is a national real estate market, the reality is that buyers don't shop nationally when looking for a home. Similarly, the job market, the local economy and other factors can vary quite significantly from one local market to the next. As such, assessing the health of a local market cannot be determined by looking at national sales. Furthermore, since local economies vary widely, the likelihood...