It depends on what you are going to do with it...
Honey is AFAIK always sold just as it comes from the bees ***. No need to pasteurized or stabilize. It can last forever in its natural state.
So is there a difference in quality between store bought and fresh local honey?
Local is almost always better.
As others mentioned, store bought honey is fine if you're going to cover it up with another flavor - a melomel, a braggot, a bochet, etc - but if you're making a traditional mead where it's essentially honey and water, you'll want the good stuff.
The biggest thing to watch for, with store bought honey, is to make sure it says something to the effect of "made in the usa"... What you dont want is 'China'; the Chinese are notorious for thinning their honey with corn syrup, or even selling you a batch of flavored corn syrup labelled honey. They also use medications and treatments on the bees themselves, that stick around in the honey - which eventually makes its way into our bodies.
So, knowing a beekeeper if you use a lot of honey, is your best bet..
If you really use a lot of honey, you may wish to introduce yourself to a beekeepers association.
Long story short, there's massive differences between local and storebought honey - you just have to know what you're looking at/for.
That stuff is just fine though, Jimmy
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