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Realtors: We Overcounted Home Sales for Five Years
Posted on 12/14/11 at 9:31 am
Posted on 12/14/11 at 9:31 am
quote:LINK
"All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought," NAR spokesman Walter Malony told Reuters.
1
Posted on 12/14/11 at 10:09 am to coolpapaboze
How perfect that Yun is still at it.
quote:
The MLS database only includes home sales listed by realtors, and excludes homes listed by owners, providing a very narrow view of the market. And because more people are using realtors to list their homes instead of selling them independently, realtor-listed sales numbers have become artificially inflated, said Yun.
In addition, some of the assumptions NAR used in calculating its data have become outdated, since they were based on 2000 Census data.
Your friendly realtor - always looking out for you!
LINK
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