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Shame on CNN

23 Feb

I really wish all the news media would say in the beginning and end of their reports on the real estate market that “ALL MARKETS ARE LOCAL and this may hot be the same in your area.”

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Shame on CNN

Shame on CNN Money for reporting half the story relating to the real estate market. CNN reported that home prices fell to the lowest point in more than a decade in January.  That sounds very ominous but does not give a true picture of the real estate market – but as I have said in earlier blogs, doom and gloom sells, good news does not.

What they reported as the median price is true for January, but what they did not mention is that more recent information, which I blogged about yesterday, was that sales of homes has increased and the list price of homes in February has risen 3%.  It is also important to note that there is a huge inventory of underwater homes in areas such as Florida, that are causing the “median”…

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Posted by on February 23, 2012 in Real Estate News

 

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