Posted: Thu Dec 29, 2011 1:57 am Post subject: NAR Adjusts National Home Sales: No Impact on MLS Statistics
Just saw the following, and not yet sure of the impact. What I do know is that all data I post at www.FoxValleyHomeSalesData.com is the hard numbers as stated by our local MLS.
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You may have seen an announcement from the National Association of REALTORS that it would be revising its home sales calculations downward in their existing-home series [EHS] released December 21st. The change has prompted some media outlets to editorialize about the national sales reports. Please be advised that NAR`s rebenchmarking of their reports in no way impacts the quality of any home sales statistics for Northeast Wisconsin released by either RANW MLS or the Wisconsin REALTORS Association. It is important to note that the data released monthly by the WRA comes directly from the MLSs in Wisconsin and does not include the kind of formula enhancements NAR needs to make to generate nationwide numbers. If you are interested in further information, NAR has posted a video on realtor.org by NAR Chief Economist Lawrence Yun who explains the process the national association used to `rebenchmark` their EHS series. Thank you.
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