I feel bad for journalists who write about real estate. It must be so boring. Prices are going up. Prices are going down. Prices are going up a lot. Prices are going down a lot. In an effort to help invigorate their job, here are a few other aspects to real estate they could look into.
- The number of prospect buyers bidding on a property.
- The number of homes buyers consider beofre making a purchase.
- The amount of financing concessions being provided by sellers.
- Which party is getting priority pic on closing date.
- Is an inspection being performed.
- Amount, if any, of concessions following inspection.
- Which area in the local markets is performing the best.
- Is there a drop in activity as a certain ring suburbs- say the third tier subrubs.
- What type of activity versus inventory are second homes commanding.
- Cash versus financed buyers.
- Generational differences between structure preferences.
- Demand for townhomes versus single family versus townhome.
- The price spread between new construction and existing.
I could go on but I think you get the picture. There’s so much more interesting data to consider in real estate than aggregate prices across a country of 313mil people.