Harping once again about inaccurate sales data in Macomb County MI standard home sales reports

The single family home sales in January in Macomb County MI  were much as I expected with the exception of the very large price drop in sales price.

Most of  this price drop I can attribute to 2 large areas of our market:   The sale of foreclosures on the market and the increasing rate of home owners who have been unable to sell and have decided to rent their homes.

Once again I'm going to harp on the inaccuracy of data if the rental information is not stripped out of the standardized reports. Ask your agent, no, insist that your agent strip the rental "sales" prices out of your market analysis for your neighborhood.

Below is a chart that gives me the standard report from Mirealscource™ for residential home sales in Macomb County MI that includes the rental information that was submitted by participating real estate agents and their brokers.

If I took those numbers above at face value I would be including 66 homes that were rented in both the total numbers of homes that were "sold" and also the average sales price for Macomb County.  

Compare the chart above with the next one that I have stripped of the rentals (homes leased) information.

As you can see by the comparison above if your real estate agent used standard data to compile a market analysis for your neighborhood the total sales prices and competing homes would be off by a large margin if the rental data is not taken out of the report.

Insist that you real estate agent remove the rental numbers and data from any report that they give to you.  

Kris Wales -  A partner for your real estate needs in Macomb County MI

Want to read more about Macomb County MI?