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Wrong, wrong, wrong.

For at least the second time today, a local media outlet has gotten this story wrong. This time, WWAY is reporting that home prices in Brunswick County fell 29 percent BETWEEN NOVEMBER AND DECEMBER, to an average of $260,000. The correct period of time that should have been quoted is between December 2006 and December 2007! If you think people are flooding into Brunswick County now, just let them get the idea they could have bought, on average, a house in December for over $100,000 less than in November. They're not going to be too happy with you when they find out it's not true! Did you read your story before you put it on your website? Did it make sense to you? Not to mention the fact that the December 2006 average home price of over $360,000 wasn't a realistic number to begin with, since it covered only a one-month period of sales. Have you been to Brunswick County lately? It's a great area, and there are terrific communities throughout, but the average price of homes there is nowhere near $360,000. This story is based, inaccurately, on sales data provided by the NC Association of REALTORS earlier this week, and is the same report also misquoted in the Wilmington Star-News headline this morning. The Star-News headline said prices in Wilmington fell 21 percent between December 2006 and December 2007 -- when it should have said, prices fell 1 percent! Big difference! WWAY, you had all day to get this right, and you blew it. The Star-News blew it too, this morning, and you were aware of that. Is it any wonder we in the real estate business get frustrated by the coverage of our industry in this area?


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