But when are they not?
NAR (National Association of Realtors) is like the Realtor Bible. Their website is chock full of market updates, quarterly surveys, statistics, infographs, are we boring you yet? If you have any interest in the ever-changing trends of real estate, it's a great tool!
" The Housing Opportunities and Market Experience (HOME) report was created to monitor consumer
sentiment about the housing market. This report covers core topics that will be tracked on a monthly
basis, such as views on if now is a good time to buy or sell a home, the perception of home price
changes, perceived ability to qualify for a mortgage, and the outlook on the U.S. economy. " - NAR 2019
The most interesting part of NAR's most recent HOME Survey was the data collected nationwide on home prices over the past year.
People all across the country were asked to analyze their community's house pricing. Sixty-seven percent of people believe that prices have gone up within their communities in the last 12 months, which is an increase from NAR's second quarter report of 2019 at 63 percent. Twenty-seven percent believe prices have stayed the same and six percent believe prices have gone down.
So are prices rising? Or is it the way some people are perceiving the market? Those who live in the Western part of the country, those with incomes of $50k to $100k, and Millennials nationwide are more likely to report that prices have increased in their communities. Here's the complete statistics on community opinion on home prices over the past year.
Home Prices in the Past 12 Months
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Each month, July through September, a sample of U.S. households was surveyed via random-digit dial, including cell phones and land lines. Using a computer-assisted telephone interviewing (CATI) system, the survey reasearch firm conducted interviews from their call center. Regional quotas are used, based on four census regions and nine census divisions.
Each month approximately 900 qualified households responded to the survey. The data compiled for this report and is based on 2,705 completed telephone interviews. For monthly results, the margin of error for the survey is +/-3.3 percentage points at the 95% confidence level.