4 things you need to know about existing-home sales data

  • NAR’s monthlies are annualized and seasonally adjusted. Numbers of homes sold in winter are so low, in many places less than half of spring sales, that percentage changes are magnified.
  • Seasonal adjustment can be inaccurate; neither weather nor interest rates nor the economy are consistent from one winter to the next.
  • Trying to collect all the sales in a consistent manner each month is a challenge.
  • If TRID did slow November closings, it pushed them into December, which should elevate next month's results.

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

The National Association of Realtors’ monthly series on sales of existing homes should come with a data-translating thesaurus. NAR does not mean to mislead, but I think its data format conceals reality. The data are useful, but only as a broad, multi-month guide to trends.