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NAR Clowns Incredible Shrinking Forecasts...

Recs

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March 06, 2008 – Comments (0)

I wrote about how horrible Lawrence Yun is at forecasting home sales, and how the clowns at the NAR consistently down their forecasts while issuing ridiculous, upbeat soundbites. This year, we're off to the same thing.

Shame on you, Yun. You're worse than Lereah. Tell the truth. You might save some people's finances, and maybe your soul, too.

Nar Forecasts YTD, and the changes from the prior month's forecast, prior year actual, and January forecast.

Existing Home Sales Estimates
      
                                   Var Prior M      Var Prior Yr      Var Jan Forecast
Jan-08      5,700,000                                0.8%    
Feb-08     5,800,000         1.8%                2.6%              1.8%  
Mar-08     5,380,000         -7.2%              -4.8%             -5.6%  

NEW Home Sales Estimates
                                  Var Prior M        Var Prior Yr     Var Jan Forecast
Jan-08 " $669,000 "                                 -13.6%    
Feb-08 " $637,000 "           -4.8%             -17.7%           -4.8%  
Mar-08 " $590,000 "           -7.4%             -23.8%           -7.4% 

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