Realtors: We Overcounted Home Sales for Five Years
Published: Tuesday, 13 Dec 2011 | 5:21 PM ET
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By: Reuters
Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.
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CNBC.com |
The National Association of Realtors said a benchmarking exercise had revealed that some properties were listed more than once, and in some instances, new home sales were also captured.
"All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought," NAR spokesman Walter Malony told Reuters.
"We're capturing some new home data that should have been filtered out and we also discovered that some properties were being listed in more than one list." http://www.cnbc.com/id/45659547
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CABLE NEWS RACE
VIEWERS NITE OF 12/12/11
FOXNEWS O'REILLY 3,271,000
FOXNEWS HANNITY 2,168,000
FOXNEWS BAIER 2,030,000
FOXNEWS GRETA 1,440,000
MSNBC SCHULTZ 877,000
MSNBC SHARPTON 830,000
MSNBC HARDBALL 797,000
MSNBC MADDOW 722,000
CNNHN GRACE 696,000
CNN COOPER 634,000
CNN PIERS MORGAN 604,000
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