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NAR Home Sale Numbers - Bogus, Lies, Propaganda, or Spin?

There is news today from the National Association of Realtors NAR that September home sales in the South have risen 9% from a year ago. First of all, I need to say one thing..."REALLY?" I just happen to be Blogging about the most recently released Atlanta real estate trends from statistics that were released on October 21, 2009. So the national headlines read home sales are up in the south, 9%...while I am seeing an "16.8% year-to-year decline!" So is NAR's data... wishful thinking, misinformation, propaganda, spin or just a plain old lie?

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 10/23/2009 03:27 PM

Comments (7)

NAR Home Sale Statistics - Are They Bogus? in the ActiveRain Channel

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Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: NAR Home Sale Numbers - Bogus, Lies, Propaganda, or Spin?

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7 Comments on NAR Home Sale Numbers - Bogus, Lies, Propaganda, or Spin?

OCT

Jim, I have to agree with you. We see the same stats here in San Antonio and it ain't pretty.

San Antonio Real Estate

San Antonio Real Estate Liz Voss (The Voss Group @ Keller Williams) They say 9% up, I see 16% down. The NAR has a very poor track record for revising these numbers.

Jim - Unfortunately the NAR has lost its way. It's no longer a source of accurate housing data, but rather one of misinformation and wishful thinking.

John Mulkey, Housing Guru (TheHousingGuru.com) I realize that Atlanta GA metro area does not represent the entire state of GA, but our numbers do represent a very substantial portion of the states home sales. GA is an agricultural state, and the reset of the state is fairly rural. I reread news and NAR articles and yes NAR is referring to September's numbers.

OCT

Jim: My September market report for Blue Ridge, GA showed a 20% increase in the number of sales compared to September of 2008; although prices for the same period declined. I think our local statistics mirror those I've seen from many parts of the country -- sales up, prices down.

I think the NAR is trying to portray the market in a 'glass half-full' way by highlighting the good news -- sales are up. But, there are certainly some ugly truths that they're not talking about -- prices are down, foreclosures will probably increase, what will happen after the tax credits expire, etc.

Good post...Thanks for getting us thinking!

Kim Southern - Blue Ridge Real Estate (Century 21 Professional Realty Group) Sales are down and prices are down.

OCT

READ THIS BLOG Evidently these numbers from NAR have even cught the attention of others!

http://wallstreetpit.com/11476-more-real-estate-nonsense

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