Is that light at the end of the tunnel or a train headed toward us? We like most people would like to see the real estate market improve and homeowners get some real help but why do we keep receiving conflicting news about home prices?
Just look below where we received breaking news from NAR showing existing home prices climbing yet we also received a story about prices falling in April according to HousingPulse.
Is NAR just cherry picking the numbers to make the market appear healthier?
When we see conflicting info like this then we know that the market definitely has some questions marks.
We’ve offered links to the two stories so feel free to peruse.
Breaking News: Prices Show Strongest Year-to-Year Gain in 6 Years
Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of Realtors®. The improvements in sales and prices were broad based across all regions.
Prices Fall in April, 2-3 Bids Per Property: HousingPulse Survey
If the buzz about bidding wars is true, Campbell/Inside Mortgage Finance HousingPulse Tracking Survey reported those accounts did not boost prices in its findings. Homes are selling below the list price, and if a home is subject to a bidding war, the high offer becomes quashed by lower appraisals. According to the report, homes sold in April received only two or three offers, and average home prices declined slightly from March to April.