Example: New Home Sales, which is the number of contracts signed in a prior month for a house that often times hasn't even been built yet. 40% or more of those contracts fall out (don't go to fruition).
Another issue I have is with old data. Reports that rely on information from months ago. Or broad based statements based on states and regions when we all know real estate is local, really local. Zip code local. That bothers people like Mike Simonsen as well. Altos Research compiles data in real time, as it happens, and serves it up locally.
When Business Week wanted to do a story on the best and worst performing zip codes, they naturally turned to Altos Research.
Here's a sampling of the various Real Time Charts they produce for Walnut Creek, CA. I think you can see why the best in the industry turn to Altos Research for their data.
Real Estate Price Trends
The median single family home price as of August 03 2008 for WALNUT CREEK is $917,989
Explain this
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Housing Market Conditions
With a Market Action Index as of August 03 2008 at 19.40, WALNUT CREEK is currently a buyer's market.
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Home Sales and Demand Trends
The average property in WALNUT CREEK as of August 03 2008 has been on the market for about 84 days.
Explain this
Price Per Square Foot
The median price per square foot for homes in WALNUT CREEK as of August 03 2008 is about $429
Explain this
Homes for Sale
There are about 194 properties on the market in WALNUT CREEK as of August 03 2008.
Explain this
I was just reading some of my Favs here on AR - Susan Goulding did exactly that, used Altos Charts for her post Pictures of Tracy, CA Market Stats