canada goose clearance sale Be Misled By This Bogus Real Estate Statistic canada goose clearance sale

canada goose deals Every time I read a real estate statistics report generated by the National Association of Realtors (NAR), I try to figure out if they are purposely misleading the public or if they are just not knowledgeable about real estate brokerage. canada goose deals

You see, NAR likes to use data to deliver its message (now is the time to buy a home!). Instead, wouldn it be nice if they were to use their canada goose uk black friday comprehensive database to tell us what is going on in the housing markets across canada goose black friday sale the US?

For years, I have been advising sellers that it takes four to fourteen days to sell a uk canada goose house. The whole concept of market time (or time on the market, days on market, or days in the MLS, etc.) is based upon the pre internet era, where multiple publishing schedules created a lag between the time one listed a house for sale and the time that the majority of prospective buyers new it was available.

Canada Goose online But content marketingand the use of critical locations buy canada goose jacket cheap on the internet allows canadian goose jacket us to reach buyers immediately, and in fact we reach more than 90% of them in just a few days. Because of this, for houses in markets with ample liquidity, market canada goose store time is about four days. Period. Canada Goose online

Canada Goose Jackets But the recent infographic published by NAR continues to report the Canada Goose Parka fluctuations in market time and it suggests that the time it takes Canada Goose online to sell a house, right now, is 64 days. Additionally, they report 32% sold in less than a canada goose coats month. But buy canada goose jacket is this true? Canada Goose Jackets

buy canada goose jacket cheap Here Is Why NAR Is Wrong buy canada goose jacket cheap

First and foremost, NAR does not have the data required to calculate canada goose clearance sale or estimate the number of days it takes to sell a house. Either way, it disturbing to know the brain trust at NAR is not giving Realtors or the public the analysis that we need.

buy canada goose jacket The process that I suspect NAR uses is to simply take the data that it receives on houses that have sold and then report the average of the on market for each listing. Sounds pretty simple, how can that produce bogus uk canada goose outlet findings on market time? buy canada goose jacket

canada goose coats on sale Early in my days canada goose clearance as a student of computer science, we Canada Goose Jackets were taught that garbage in equals garbage out meaning if you try to draw conclusions based upon faulty data, the conclusions themselves are faulty. canada goose coats on sale

canada goose Well, the data that NAR is using is faulty, canada goose factory sale and they likely have known it for years. canada goose

Canada Goose Outlet How To Measure The Time It Takes To Sell A Home Canada Goose Outlet

canadian goose jacket I decided to measure both the mean (average) and median time it has taken for Tallahassee house sellers to sell their houses, just so that I could compare it with NAR findings. But unlike NAR, I took the canada goose uk outlet garbage out of my data. And it took a lot of work. canadian goose jacket

canada goose black friday sale Here are a few examples of cheap canada goose uk what was required: canada goose black friday sale

canada goose clearance Some listing agents keep creating new entries for their listings. This is done so that their listings show up as to the market on many websites. They feel that they can trick a buyer into thinking it a fresh new listing, but the reality is that buyers (people who have gone through the process and are now awaiting the right house) cannot be tricked, they cheap Canada Goose know the market inside and out for the houses https://www.topcanadagoose.ca that are similar to their desired purchase. So a listing that has been on the market, but relisted multiple Canada Goose Outlet times, might record a final market time of a week or even zero days, when in fact it might have been on the market for months or years. These listings go right into the NAR database, while all the listings that fail to sell do not. canada goose clearance

Some listing agents create a fresh new listing whenever they put one under contract. This is Canada Goose Online often done purposely to skew their own statistics. canada goose coats on sale This way the house sells for price and in zero or very few days. If they do this all the time, they can produce MLS reports that show them as highly effective at selling their houses fast and canada goose uk shop for full price.

Canada Goose Parka Here are reasons why my results are also skewed to show a shorter average time to sell a house: Canada Goose Parka

Some house canada goose sellers have been listed with other real estate companies prior to their current one. Very often, house sellers do not interview multiple agents Canada Goose Coats On Sale before listing their house for sale, and often times they end up with somebody who is not well trained in marketing a house for sale. When their listing period expires (often after 6 months), they end up interviewing multiple agents and hiring a highly qualified agent for the job of selling their house. So if this agent uses one of the techniques above and sells the house after several months but reports it as one day, NAR will use the day to calculate market time. I will have the true market time for the current agent, but I just do not have the resources to scour our data and remove past real estate agents time on the market in my calculations. So my results are skewed lower because I only count the total number of days a house has been listed with its final real estate company.

Some house sellers try to sell a house FSBO prior to hiring a real estate company. Much like the example above, what about a house seller who tries to sell the house on their own for a month or two, then hires an agent. Canada Goose sale I be able to process the total time on the market they spend with the agent, but all those days and months spent as a Sale By Owner will not be part of my analysis. Nor will it for NAR either.

My Market Time Findings

canada goose store So in Tallahassee, our averagetime on the market over the past year, when measured like NAR would do it, is 90 days. The median market time is 55 days, which is perhaps the number we would use to compare against the 64 from NAR. canada goose store

But once I re calculate the number of days a house has been listed for sale with a real estate company, the average shoots up to 116 days (January 2016). Now remember, that does not include the days that houses were listed Canada Goose Outlet with another real estate company or as a FSBO, and it does not count all the days that houses were listed for sale and never sold.

This means that our optimistic measurement of time on the market is somewhere between 29% and 111% skewed from reality (again not counting all those other unaccounted for days on the market).

We have to believe that NAR reports are no less skewed. You have to wonder why a group of very smart people would continue to produce reports on market time when they have to know that their findings are bogus.

Canada Goose sale Why All This Matters Canada Goose sale

canada goose coats If you hire somebody who believes NAR, they will tell you that (on average), you can plan to have a contract on your house in just over two months so you should plan your move accordingly. canada goose coats

cheap Canada Goose But their advice could very well leave you frustrated with a house that seemingly nobody wants (even though there is a large market filled with buyers that are looking for a new house) cheap Canada Goose.