A Few Thoughts about Real Estate Statistics

 Over the past 25+ years selling real estate in Fairfield County I have tried to stay on top of what is going on the market in the half dozen or so towns that I cover on a regular basis.  The plethora of statistical data now afforded to us via the Multiple Listing Service and other Real Estate informational sources makes it a lot easier than it was before homes were available to view on the internet.

Yes, back in the old days, we had a printed magazine that covered all of the listings that was not completely current to the day.  It was expensive to print out these behemoths and it took longer to sell homes than it does in this current period that we're living through (180 days was not uncommon).  But though it lacked in up to the minute information,  it allowed us to have a thoughtful look at homes.

Today, I see many agents producing monthly statistics about how this month compared to the same month last year.  There are some benefits in seeing these numbers, but having the bigger picture gives a more accurate indication of what is going on, in my view. That is why I tend to publish semi annual statistical data and observations.  It doesn't mean that I'm not seeing that same information, it's just that I know that some individual months may not accurately predict what is going to happen in the coming months.  

More and more states have started to relax masking mandates.  This may turn out to be another example of trying to see the short term picture, rather than trying to wait a bit to get a more accurate picture of what is going on.  Covid cases had gone down in the summer of 2020 to very manageable levels before the Delta variant hit, and numbers surged.  I think that it is important to  remember to look at the CDC guidelines before we think that the virus is totally manageable.  I will wait a bit before putting out 2022 real estate statistics.