Prudential Douglas Elliman power broker Dolly Lenz appeared yesterday on CNBC’s “Power Lunch” to discuss the housing market (see video above). She told buyers and sellers that they must cast a skeptical eye on housing data — whether it be from Case-Schiller, the National Association of Realtors or RadarLogic — especially when different reports arrive at contradictory conclusions.
“Any buyer or seller of real estate — this is a huge decision for anyone — it’s the biggest decision in their life financially,” she said. “They should be skeptical of data and make sure the data matches.”
Several times throughout the interview Lenz repeated the mantra “trend is your friend.” That is, when housing data and related reports on jobs, mortgages and the overall economy, are all pointing in the same direction, that’s probably the true direction of the market. Right now, Dolly Lenz concluded, the trend is clearly pointing up. [CNBC] — Adam Fusfeld