TMFBent (99.85)

NAR, Your Source for Bad Data AND Blind Optimism

June 14, 2008 – Comments (3)

Noticed this via Calculated Risk:

When the National Association of Realtors issued its first-quarter report on the health of the housing market last month, New Jersey was singled out as one of only three states that saw the volume of home sales increase during the first three months of the year.

On Friday, the Realtors' group issued a huge correction, saying that instead of a slight increase, New Jersey's housing market actually saw a 30 percent drop in home sales during the first quarter compared with the same period last year.

And here's the guy who's probably responsible for getting the truth out. A Realtor, too. One of the good ones. The NAR doesn't deserve him. There are some great Realtors out there who have consistently cried "bogus" as their national leadership has behaved terribly during the entire bubble and burst. Hopefully these folks will grab the torches and pitchforks and throw out the bums running the NAR and ruining their reputations.