Local Market Statistics
Reprinted from the NATIONAL ASSOCIATION OF REALTORS® website.
Local Market Reports
All real estate is local and every market is unique. To help REALTORS® and other housing market analysts get the most out of the plethora of data that is available, NAR Research produces a series of Local Market Reports (LMRs) which provide insights into the fundamentals and direction of the nation's largest metropolitan housing markets. Each report evaluates a number of factors affecting home prices, including:
- The health of the local job market
- Foreclosure rates
- Housing inventory
- Debt-to-income and mortgage-servicing-costs-to-income ratios
Some Notes on Data Usage
NAR Research uses a variety of data sources in preparing the LMRs.
- Housing Price and Sales Statistics - The National Association of REALTORS®
- Labor statistics - U.S. Bureau of Labor Statistics (Establishment and Household Surveys)
- Housing Permits Data - U.S. Census Bureau
- Foreclosure Data - Mortgage Bankers' Association of America (MBAA)
- State Economic Index - Federal Reserve Bank of Philadelphia
Every attempt is made to include the best data possible. If one data source is not available for a particular metro area, a second-best solution is substituted. For instance, the Bureau of Labor Statistics (BLS) does not provide employment figures for all metro areas from its Establishment Survey. Where this data is not available, we have substituted figures from the BLS's Household Survey.