How to Read Housing Market Data: Prices, Inventory and Sales

Start by asking what is being counted. New homes and previously owned homes are different datasets. An asking price is not a closing price. A national median cannot tell you what a particular street is worth.

Next, check the period. A monthly total, a seasonally adjusted annual rate and a year-over-year comparison answer different questions. Compare like with like before drawing a conclusion.

Finally, look for revisions and uncertainty. Survey releases can change as more information arrives. Follow the source link, read the notes and use local evidence when applying a national headline to a specific property.