Flawed housing data might mask depth of woes (appraiser, sales, percent)

[Vascodagama]

Flawed housing data might mask depth of woes

The National Association of Realtors May Have “Overstated” the Numbers

Figures from the National Association of Realtors that are among the most closely watched indicators on the housing market have been called into question by economists who say they may overstate existing-home sales activity by up to 20 percent.

[Mike1306]

The article basically says to me that they may be off but they may not be.
The only other figures they give are from Corelogic, who counts closings in over 2000 counties according to the article. 2000 counties would be about 63% of the counties in the U.S. it seems their numbers could be off also.

Being "NAR is working with the Federal Reserve, Fannie Mae, the Federal Housing Finance Agency, the MBA, Corelogic and academic economists" to make sure they get the figures right, I think it would make sense to wait for any revised figures to come out rather than the bleak picture this writer paints. Of course writers these days are paid to grab peoples attention and housing has been a topic to grab attention over the last few years.

[MikeyKid]

The NAR overstating or misrepresenting data?! Why in the world would they do that?

Anyone who's paying a tiny bit of attention realizes that the reports are comical. You have to be a serious mouth breather to not see what's going on around you.

In the end, the data is not transparent and not subject to independent audit. Laughably it is used as input into an agency like The Fed, Fannie, etc who are making policy... yet, more groups in a long list that are not independently audited. It's a joke.

But hey - the Realtors paid for that MLS data and it's theirs to own so we should shove our sense of entitlement to see the data and go buy a license ourselves!! At the end of the day, garbage in = garbage out.

[Greeenback]

National Association of Realtors (NAR) always come up with their own side of the story; marketing tool. Get a whiff of their economists - lol - it is better than watching Saturday Night Live (SNL)

If they were smart, they would hire a board of Real Estate Appraisers so the numbers won't be skewed and they will get the real picture/analysis.

Oh well...
(let them dwell in darkness)