Let's talk about market data or updates in relation to social media or anywhere online.
Market Updates are Manipulated
The vast majority of social media's real estate market updates are garbage. It is very simple to manipulate the data.
Real estate data is slow and often irrelevant. It is also generally quite biased.
Market Updates are Not an Indication of Today's Market
Remember, these market updates that are published are based on the past. Market updates are reports showing market indicators from the last month, quarter, or year.
To truly grasp the current market data, you have to be involved in the industry or communicate with someone who is. Whether it is a broker or a real estate agent, the people working in the industry are the only ones who know the market's current state.
All of these social media posts about what is going on are simply ancient data or manipulated data.
What is happening on a national level in real estate very well may not be what is happening where you live.
The Problem with Industry Buzzwords
The real estate industry's problem is that some companies will release talking points and use buzzwords such as "shifting" or "accelerating."
What it boils down to is the market cannot be timed. So, if it is impossible to time when prices will go down, you definitely cannot time when prices go up.
You simply cannot believe what you are hearing on the news or reading on social media is what is happening in real-time. It is not.
Focus on the Important Data
What you must do is focus on the essential data, which is the most recent data. Find out what has happened in the market over the past 30 days - that is what is relevant, not what occurred a year ago or even 60 to 90 days ago.
If you want to know what data points are the most important when buying or selling a home, feel free to contact me or follow me on YouTube.
Click here to Subscribe to my channel and stay in the know regarding real estate.
