Monday, October 12, 2015

Why Are Las Cruces Home Sales Really Better Than "Reported" ??

The idea should be to promote the sales of homes and not break it down by category if you don't have to. However, this report for Las Cruces NM fails to do so. Even worse, it is the Las Cruces Association of Realtors which issued the report.

It shows that "new" home sales are up, and prices up an impressive 10%. However, the same report shows that "existing" home prices decreased over the same period, even though sales were up slightly. This report also shows that short sales and bank owned property sales are also down over the same period.

What could and should have been a positive report for the market instead becomes a negative for current and potential home sellers in the area. This report should have been ALL homes, whether they are new or "existing".

There is no "total" figure, so we don't know for sure, based on this report, whether or not home sales in total are up, along with prices. As a guess at interpreting the statistics, they are, but it is not worth doing the math that we (as consumers) should not have to do.

I'm sure that some agents will argue with me that with existing home prices being down that it makes those a better buy. However, from the standpoint of a potential seller, this means they likely won't get a more realistic (and higher) asking price than they would have if ALL home sales and prices were "up".

If it were the local home builders association putting out this sort of publicity, I could understand that they want to bring more appeal for their new construction. However, this is a report through the Association of Realtors, which is supposed to be representing home sellers just as much as buyers.

They don't have to lie. Just tell the public that "home sales and prices are up", and not break them down publicly to the detriment of a larger segment of the local population.

It's time to turn a positive into a positive.

1 comment:

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