Industry NewsMarkets & Economy

NAR overestimated real estate sales by 14%

November existing-home sales up 12% from year ago
Published on Dec 21, 2011

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by CareyBot

The National Association of Realtors says it overestimated home sales by more than 14 percent since 2007 because an adjustment that the trade group makes to data it collects from multiple listing services to account for sales that take place outside of MLSs got out of whack over time.

NAR says it's fixed the problem and "rebenchmarked" statistics going back to 2007, when it said its adjustments began to diverge from previous assumptions about how many sales take place outside of MLSs.

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