The National Association of Realtors (NAR) has admitted to grossly overstating its numbers of reported home sales over the first years of this Lesser Depression. After the trusted real estate data firm CoreLogic questioned the accuracy of NAR’s numbers, the real estate trade union took a second look and revised its reported home sales data down by nearly 3.5 million homes.
Original NAR reports claimed 24.8 million homes were sold nationwide from January 2007 to October 2011. Revised data shows this figure to be off by 14% from readily available recorded data, with a total of only 21.3 million homes sold nationwide over the course of the Great Recession
(From: first tuesday)