US home sales, for the past 5 years, seem to have been, in some cases at least, double counted. WOW. So the NAR misreported already weak home sales, on the upside. Who would have thunk it? A weak market is weaker than they tell us. Sheeeeeeeet.
Early this year, the Realtors group was accused of overcounting existing homes sales, with California-based real estate analysis firm CoreLogic claiming sales could have been overstated by as much as 20 percent.Could this also be happening locally? Now don't get me wrong, I'm not making an assertion that monthly data released by local boards across the country is nefariously manipulated to misrepresent the strength of the market. I'm just asking a question: why do we put so much trust in data so jealously safeguarded against third party verification? Is the Landcorp info, or the Teranet info, enough to allow a firm like the US-based CoreLogic from exposing issues with the reported data?