From Inman News™
CoreLogic: NAR methodology appears to inflate home sales by 15-20%
Statistics published by the National Association of Realtors appear to overstate sales of existing homes by 15 to 20 percent, mortgage and property data aggregator CoreLogic says in a new report that concludes home sales fell more sharply last year than previously thought.
A NAR spokesman said the CoreLogic claim "is premature at best," and NAR will be making some benchmark revisions to its historic sales data later this year.
NAR's figures -- based on data collected from multiple listing services and large brokerages -- show sales of existing homes fell 5 percent in 2010, to 4.9 million. But CoreLogic, which collects public sales records from county recorders and courts, estimates that home sales actually fell 12 percent, to 3.6 million.
Read all about it > Decline in real estate sales greater than stated?
or how about - Watch as the NAR Fritters Away the Last Remnants of its Credibility
I picked this up from Chris Fountain’s Greenwich Real Estate blog, For What It’s Worth > Hmm- could the NAR be underestimating the decline in real estate sales and prices? & don’t miss the comments.
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