Real Estate: Trust Me, (And You) It Comes Down To The Numbers
I'm reporting from "Real Estate Connect NYC" a conference of real estate agents, online real estate services and some finance-type folks thrown in for good measure. So you've got Zillow,RealtyTrac, Bankrate,Coldwell Banker,Century 21, and it's all about data.
I know I spend the bulk of my day talking numbers, but all these CEOs are telling me that buyers and sellers alike are so freaked about this housing market that they are becoming sponges of even the most obtuse data points.
RealtyTrac, which markets foreclosed homes online--you would think their business would be going gangbusters, but they say data costs are skyrocketting because of all the vast new volume. On top of that, people are looking at the listings but they're not really buying. Credit is tougher to get and everyone's waiting for that great big announcement that the market is bottoming.
Meanwhile the CEO of Zillow tells me they launched new technology today that will make their data more accurate. They're going to more local markets, more homes, and consequently getting far more traffic.
So for all of you out there who write in that you're sick amd tired of hearing me constantly spewing new numbers--well apparently that's what you want!
Questions? Comments? RealtyCheck@cnbc.com