Corelogic, a company that collects real estate information, said today that the National Association of Realtors (NAR) has overstated home sales by 15-20%. I guess NAR doesn’t just collect info and report it, they also do some adjustments to the data to make up for data they don’t get. Corelogic says that NAR hasn’t updated their “formula” since 2004 and the market has changed a lot in 9 years.
I never liked housing statistics reported at the National or State Level. Not only is all the data not collected and assumptions made, but real estate is really local so what the market does in one County can be totally different than a neighboring County.
This is why I try to provide the statistics for our local market as these are the only ones that matter, IMO.
BTW, I have the January date for the statistics dashboard and need to create the new dashboard and will upload it in the next couple days. http://www.slocountyhomes.com/dashboard.html