The latest positive numbers for home sales and prices have divided real estate agents, ordinarily a group uniformly upbeat about the housing market.
Some doubt the numbers, even though they’re from their own association, and say it’s making it tougher to get home sellers to reduce their prices to more realistic levels.
Kevin Dawe, a real estate agent with Balsley Losco Real Estate in Northfield, said last week’s report that the median home price in the Atlantic City area rose 4.8 percent in the first quarter didn’t match what he’s been seeing.
In particular, Dawe said the figures from the National Association of Realtors, and other information gathered from state and local Realtor groups, seemed to disagree with what the Multiple Listing Service showed.
“As we talk to our sellers about the declining market we are actually facing and the fact that they have to be aggressive in pricing their homes if they expect to find a buyer, the statistics in your article are baffling and impact our credibility with customers,” Dawe said.
He forwarded his comments to the state association, and Drew Fishman, association president and broker with ReMax Atlantic in Northfield, called to defend the data.
Fishman said MLS searches don’t capture the total market the way the longtime national survey does. He also suggested that if the national survey were biased toward the positive, it wouldn’t have found sales growth in just three states, New Jersey among them. >>>>
Real estate agents debate local statistics
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Estate agents leading the prices downwards, who’d a thunk it?