Categorized | Residential

United States Housing Struggles Went Underreported

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Although it has been clear that the United States residential real estate market has struggled since 2007, the most recent data indicates that reported number of homes sold was far greater than the actual number of sales.

The most recent official data from the National Association of Realtors indicates that only seventeen and a half million sales have taken place since 2007. However, the association had reported that more than twenty million homes had been sold during that same period. The exaggerated sales numbers deceived the general public into believing that the housing market was not struggling as much as it actually was.

Despite the massive discrepancy, the National Association of Realtors states that the actual numbers have little significance to the actual residential property buyers and sellers. Rather, they state that local data plays a far bigger role in terms of sales volume and pricing performance.

The national sales data, however, has an impact on investors, as both Wall Street and the Federal Reserve closely monitor housing data to gauge the health of the overall economy.

While the reported numbers falsely portrayed the overall health and performance of the market over the four years, analysts are still rather optimistic about the current possibilities for recovery. Recent trends and accurate data indicate that the housing market will start to see some signs of recovery towards the end of 2012.

There has been an increase in the number of housing permits, and new homebuilders are reporting a strong increase in activity. Overall housing sales have also increased when considering seasonal adjustments.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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