There is no such thing as a "national real estate market". Real estate is local.
We know this is true because even cities don't have their own real estate market.
This chart shows how home prices have diverged across adjacent zip codes over the last 12 months.
Some influencing factors:
- School systems
- Infrastructure
- Proximity
- Supply of homes
Stories about "The U.S. Real Estate Market" are irrelevant. In each city in America -- and on a street by street level -- real estate markets can be vastly different.
(Image courtesy: Wall Street Journal)
