Wednesday, December 21, 2011

The National Association of Realtors: The Housing Bust Was 14.3% Worse Than What We Told Buyers, Sellers, Congress, and the Media From 2007-2010

Annually adjusted data, from 2007 through 2010:
  • 2007 lowered 11% to 5.04 million
  • 2008 lowered 16% to 4.11 million
  • 2009 lowered 16% to 4.34 million
  • 2010 lowered 15% to 4.19 million
The NAR -- a salesmans' trade organization that masquerades as a consumer advocate and a reputable source of economic data -- released their long-awaited revised numbers today for existing home sales.   The latest press release  is mostly blather about how the mistakes were made, as well as some false reassurance that this shouldn't impact the consumer.  Paragraph 10 has the data.  

This blog will have an upcoming post on what this news does to consumers, Realtors, confidence, and the C'ville housing market.

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