Home values are going up across America!
Published December 7, 2007 by adminIf you only read the negative headlines out there recently about the real estate market, you will miss some very interesting statistics. One in particular is that, in Hampton Roads alone, sold prices were 4.6% HIGHER this year than they were last year.
Of course, you would have missed that tiny statistic buried at the very end of a recent Virginian-Pilot newspaper article with the headline, “Existing-Home Sales Down in 46 States.”
In the article, dated November 22, 2007, the National Association of Realtors were said to have announced that sales of existing homes fell in 46 states across the nation in the July to September quarter, the information for which was gathered by a real estate trade group.
The NAR apparently saw this figure as an underscore to “the severity of the nation’s housing market slump.”
The only two states that showed an increase in sales were North Dakota and Vermont. In our neighboring Virginia, sales showed a decrease of 19.1%.
Here is the interesting part, however, and what they don’t state FIRST in these doom and gloom stories: the same real estate trade group found that home prices actually ROSE in 93 of 150 metropolitan areas surveyed!
So the next time you read a “horror story” about the housing market, try to remember there is more than one side to every story. It’s unfortunate that the media only seems to like giving bad news…
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