A housing market analysis involves gathering statistical data on recent trends such as average selling prices and foreclosure levels. This data can be collected from government reports, local courthouses, and real estate agents. Demographic changes can also be examined through census records or door-to-door visits. The analysis must cover a specific area and time period and subsequent reports must cover the same region and duration for trends to be monitored.
A housing market analysis is a study that contains statistical data relating to the housing market. Typically, an analysis will include details of recent housing market trends such as average selling prices, foreclosure levels, and areas where the most home sales activity has occurred. To produce a useful report, the person conducting the analysis needs to set parameters including geographic boundaries and the schedule for the study.
Regional and national governments often produce monthly or quarterly reports detailing price trends in the housing market. These reports include average house prices and these figures are normally compared to previous reports so that trends such as price increases or decreases can be measured. In the absence of that information, someone trying to conduct a housing market analysis could hand-pick data on recent home sales from the local courthouse. Documents such as warranty deeds are often made publicly available and these documents usually include sales prices and transaction dates. Analysts can also gather information on recent sales from real estate agents.
Details of events such as foreclosures are often listed in local newspapers and magazines. Additionally, foreclosures involve judgments of default, and records of those judgments are usually filed with the local court. In addition to gathering foreclosure information for a real estate market analysis, an individual can also cross-reference foreclosed home addresses with local property tax records that include description of property parcels. This information can be used to create a report showing the types of properties that have been foreclosed over a given period of time.
Someone who is conducting a housing market analysis may want to find out the demographic changes of a particular neighborhood or region. In many cases, local governments conduct censuses and copies of these completed reports are often made publicly available. By examining census records, an analyst can uncover information such as the age, gender, and ethnicity of people who are housed in specific regions. In the absence of census information, an individual can collect this data by making door-to-door visits to neighborhood homes.
Having gathered data on home sales, foreclosures, demographics, and other relevant information, the person compiling the housing market analysis must produce a report covering housing activity in a specific area over a specific period of time. For the report to be meaningful, the analyst must create subsequent reports that cover time periods with the same duration as the first report and include housing information for the same region. Over time, real estate market trends can be easily monitored as analysts can compare reports covering different time periods.
Protect your devices with Threat Protection by NordVPN
