Realtors: We Overcounted Home Sales for Five Years

Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.

The National Association of Realtors said a benchmarking exercise had revealed that some properties were listed more than once, and in some instances, new home sales were also captured.

“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.

6 Responses to “Ah…”

  1. ricki says:

    WTH? Do all these agencies have Math-is-Hard-Barbie working for them?

  2. Ave says:

    Can’t even trust realtors nowadays.

  3. Mr. Bingley says:

    “The Realty market we inherited from the Bush Administration was much worse than we believed…”

  4. Yojimbo says:

    Good to know that the National Association of Revisionists will get it right, this time.

    What kind of filters did these people have that would allow new home sales to be included in the sales, let alone double counting existing home sales.

    More than likely they were cooking the books to keep the figures up so people didn’t see that sales were rolling over.

    I don’t think it is coincidence that this appears in close proximity to the Bingley chestnuts above.

  5. nightfly says:

    Well, don’t blame me, I know I only bought my house once.

  6. Yojimbo says:

    Measure twice, cut once.
    Buy once, count twice.
    It’s the new math.

    Go Bruins!

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