A recent article in Bloomberg News titled “Can You Trust Statistics on U.S. Housing” points out that the stats generated by the government are actually more like looking in the rear-view mirror due to the nature of the process of buying a house which can take months of preparation, actually viewing properties and then the negotiating and closing.
I would add that certain stats purport to measure the same thing, but have different methodologies. You definitely need to know the basis for measurement. By the time the numbers show a definitive uptick indicative of a trend, you may already be behind the curve.
Better to watch and analyze true job growth and where it’s happening!