Thursday, January 10, 2008

Steve Brown Needs to Consult RECTAMU & NTREIS

Ok, the graphic is pretty harsh but Steve Brown just doesn't get it.
North Texas home sales plunged in December. The number of preowned homes sold fell by a quarter last month compared with December 2006, according to preliminary numbers released Monday. The median price of homes sold in the area also declined. "I would have expected sales to be off, but not by 25 percent," said David Brown, a housing analyst with Metrostudy Inc. "Wow! That's a big decline." Real estate agents sold 5,257 single-family homes last month, according to statistics from the North Texas Real Estate Information Systems and Texas A&M University. The drop in sales from last December is one of the largest recent declines on record. The number of pending sales was also down 21 percent. The median price of homes sold last month also fell 2 percent from a year ago to $143,190.
This article was written a few days ago and when reading it it's easy to think the sky is falling. I also cring to think that this is what is being told to the general public. But then that's what you get with Steve Brown. Stats without perspective and all doom and gloom. I'm wondering if he just can't decipher stats or if he's just too lazy to do so. With all that being said, I would like to direct him to some real statistics that have been compiled by the Real Estate Center at Texas A&M University using our MLS statistics from the North Texas Real Estate Information Systems. Two entities that cannot be disputed. While December's number have not been officially released these numbers show that as of November, average North Texas single family sales prices have appreciated by 5%. Condos and townhomes by 11%. Feel free to peruse through the statistics if you want. These are real and for public use via MetroTex Association of Realtor's website. How Steve Brown uses them in his scare tactic newpaper articles is ridiculous and and juvenile. Seriously, what is hoping to achieve by writing this crap?

1 comment:

  1. Never pick a fight with someone who buys ink by the barrel. Unless your name is Candy.