Realtors Get It Right, Finally

The National Association of Realtors, NAR, has corrected and published the long awaited existing home sale numbers  from 2007 to the present. As we learned in an earlier statement the previously published sale numbers were to high due to a faulty method of tracking sales.

There are a few factors that entered into the faulty process, among them the “For Sale By Owner” (FISBO) portion of the market. When the housing market dropped dramatically, so did the FISBO portion of the market, something the NAR had not factored into their calculations.

As you can see from the chart below the revision was significant.

Existing Home Sales Before & After
Original Revised % Changed

2007

5,652,000.00

5,040,000.00

-11%

2008

4,913,000.00

4,110,000.00

-16%

2009

5,156,000.00

4,340,000.00

-16%

2010

4,908,000.00

4,190,000.00

-15%

4 yr avg.

5,157,000.00

4,420,000.00

-14%

 

 

 

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