The National Association of Realtors needs to "revise" its home sales figures going back to 2007. Before you get any hope up, remember this is the same organization that seems to constantly flood the media with negative stats about home sales.
Yet, according to today's news, they have revisions. Now the NAR is showing everybody that home sales statistics are actually WORSE going back over 4 years:
http://www.dailyherald.com/article/20111212/business/111219962/
This story indicates that some sales "were counted twice" and adds that it has something to do with the reporting of the Census Bureau.
Sorry, but this story raises more questions than it answers. What on earth does the Census Bureau "reporting" have to do with actual home sales? How did it take four years for this to come out?
Those questions, of course, are in addition to the ones I have been raising for more than two years. I'd still like to know why the NAR continues to release negative home sales statistics at all. My understanding is that this organization represents thousands of realty agents who are in turn representing millions of people who have been looking to sell their home(s) during this market downturn.
Putting out information such as "worse than a year ago" has no bearing on someone's decision whether or not to purchase a home today. That has been bad enough. Now, we're supposed to look the other way when it is revealed that these statistics were not correct, and in fact should have been even worse.
Ouch.
Showing posts with label nar. Show all posts
Showing posts with label nar. Show all posts
Monday, December 12, 2011
Thursday, February 24, 2011
Detroit property high on search list?
The NAR has put out some startling news that puts a positive spin on the market, for a change.
Yet, it is hard to believe. They claim that the 2nd most search city on Realtor.com is (Are you ready for this?) none other than Detroit.
http://lansner.ocregister.com/2011/02/24/americas-most-searched-housing-markets/100849/
I can understand Chicago being on top of the list, even with its snowiest February in more than 100 years. My thinking is this is because a number of area residents got so fed up with winter that they would consider selling, and want to compare area home prices. Still others who live within the city limits of Chicago are not happy with the actions of the soon-to-depart Mayor, and are looking to move out of the city and in to the suburbs or perhaps beyond.
But Detroit?
The only thing I can figure is that with houses there being priced so low, and with the banks paying next to nothing for Certificates of Deposit and other investments, a number of people are looking at buying and holding properties in the Detroit area for a few years. They figure somehow the city will be rebuilt or at least be brought back to life somehow.
Meanwhile, this is the sort of information that the NAR should be putting out. It reminds people that consumers are using their sites and continuing to search for properties. This is much better than the damage they do by actually releasing the "home sales are down x% compared with last month and last year" stats they seem to constantly do. Those only reinforce the belief that the market is bad. Not that it is great, but people within the industry need to keep a positive slant at all times.
Yet, it is hard to believe. They claim that the 2nd most search city on Realtor.com is (Are you ready for this?) none other than Detroit.
http://lansner.ocregister.com/2011/02/24/americas-most-searched-housing-markets/100849/
I can understand Chicago being on top of the list, even with its snowiest February in more than 100 years. My thinking is this is because a number of area residents got so fed up with winter that they would consider selling, and want to compare area home prices. Still others who live within the city limits of Chicago are not happy with the actions of the soon-to-depart Mayor, and are looking to move out of the city and in to the suburbs or perhaps beyond.
But Detroit?
The only thing I can figure is that with houses there being priced so low, and with the banks paying next to nothing for Certificates of Deposit and other investments, a number of people are looking at buying and holding properties in the Detroit area for a few years. They figure somehow the city will be rebuilt or at least be brought back to life somehow.
Meanwhile, this is the sort of information that the NAR should be putting out. It reminds people that consumers are using their sites and continuing to search for properties. This is much better than the damage they do by actually releasing the "home sales are down x% compared with last month and last year" stats they seem to constantly do. Those only reinforce the belief that the market is bad. Not that it is great, but people within the industry need to keep a positive slant at all times.
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