A lot of people greet press releases published by the National Association of Realtors with a good dose of skepticism.

Which they should! We’ve all seen their rosy forecasts, month after month. Often, it seems as though they have no grasp on reality.

I mostly agree – their forecasts seem to be off, and they seem to put a lot of spin on numbers, especially the bad.

I think they do a good job on a couple of things, however. One of them is New Home Sales.

See, the US Census Bureau reports a new home (not resale) as “sold” when a contract is signed, not when the deed is transferred. Doesn’t that seem odd?

Many buyers of homes over the past year have canceled their purchases; in some cities, up to 50% of contracts have been canceled (buyers either get their deposits back or simply walk away!).

The National Association of Realtors, however, only counts a new home (not resale) as “sold” when it closes.

Makes sense, no?

NAR’s existing and new home sales ignores important segments of the market – for-sale-by-owners, specifically. Those sales, I would imagine, would skew the average and median sales prices downward, which is why you probably see differences reported every month between their numbers and others’.

In Massachusetts, we have access to different sets of data. The Massachusetts Association of Realtors releases monthly sales information, as does The Warren Group. And, in Boston, we have the Listing Information Network (LINK) which I think does an excellent job of compiling data. Plus, of course, I report data each week (woefully incomplete, but probably a good snapshot of activity, when used regularly).

You should collect as much data as possible, of course. Fortunately, there are plenty of options, these days.

Contact me to find out more about Boston condos for sale or to set up an appointment call/text 617-595-3712.

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For more information please contact one of our on-call agents at 617-595-3712.

Updated:  1st Q 2018

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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