NAR Overestimated Home Sales Numbers Since 2007

[ptradmin]

So the housing downturn is just about over, right? Not so fast! Turns out that the data used by realtors to factor the sales of previously owned U.S. homes all the way from 2007 through October of this year needs to be revised. Turns out the National Association fo Realtors, who provide this data, discovered during a benchmarking exercise, that "some" properties were listed more than once. In some instances, even new home sales numbers were affected. All of this is to say that it's even worse than we think - which is more or less what we've kind of been saying all along, though there wasn't necessarily data to back it up.

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