Why some American real estate markets are more transparent than others

The United States is the third most transparent real estate market in the world , topped only by the United Kingdom and Australia.

But even in highly transparent markets, there are differences between cities , according to JLL’s 2018 Global Real Estate Transparency Index: City-Level Transparency report. Los Angeles, for example, is the second most transparent city in the world. Phoenix ranks 25th.

One of the big reasons these differences occur is because American state and municipal governments have autonomy to make their own rules around transaction disclosure and taxation, says Daniel Mahoney of LaSalle Investment Management.

“The patchwork of state and municipal laws make data availability differ across metropolitan areas,” Mahoney says. “The transparency range in the U.S. is smaller than in many other countries, like China and Russia, thanks to high-quality data standards that are commonly

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