April New Home Sales

[Account Closed]

Hello BPers,

Have a excerpt from an article, followed by a question. I am new to real estate investing and have yet to make a deal. Just wanted some insight from the BP community.

A quote from cnbc.com, "Sales of new U.S. single-family homes rose more than expected in April and the stock of houses on the market hit a 3-1/2 year-high, further signs the sputtering housing recovery was poised to regain steam." It went on to say, "Last month, new home sales jumped in the Midwest to their highest level since November 2007. Sales also rose in the South, but were flat in the West. In the Northeast, sales recorded their largest decline since October 2012." Read the full article at http://www.cnbc.com/id/101700865

My question relates to how does new housing sales or government housing data affect your sentiment towards the overall housing market, not just new home sales? More specifically, what trends or indicators do you look at to understand your target markets?

Thanks and have a great extended weekend!

Andy

[Carlos Aguilar]

Great question Andrew. National real estate market news is a dual edge sword. Often you need to know how to filter out the noise and see what is the usable data that relates directly to you specifically and locally. I don't pay too much attention to nation sales figures as it doesn't relate to me personally. I live in Las Vegas and I do play close attention to market conditions here. I look at all types of data like local economic trends ,how many people are moving in and out of town and any new legislative laws that have a direct correlation to our local real estate. Whats really important here is to do your own search. If you rely on others that promote their own interest by doom and gloom you will often be mislead. There is a lot of people like that. I have been in Real Estate for over 9 years.So I make it my business to know all there is about the area I buy and sell in. Trust in your self. Good luck!