Recently news was released from the National Association of Realtors of an reporting error, although they "typically ' have amazing tools to analyze , summarize and extrapolate all matters of data on the real estate market, the information as noted in a recent news release is not "full proof',,, and most of that data is typically released on a semi regular basis. The recent NAR report below indicated that in 2007, the NAR had not factored in certain variables that skewed their market activity asessment. In fact the NAR error caused an over statement of sales by 14% . A significant number and when the report was first published many buyers and sellers accepted the report as accurate, because it was written it was gospel. This unfortunately happens quite frequently in the Tucson real estate market; Every time something is written by some journalist in New York city or even in Arizona, using some "configured data" or information even from the NAR, I get phone calls , usually slightly panicky because the news written usually has some "scary spin" which is an old a tool as news itself... So Here is what I recommend to anyone interested in receiving real time facts , data, boots on the ground information on," how the Tucson real estate market is doing" .. call a respected Realtor in the market you're interested in ,, one that works like me 7 days a week is usually a good idea, because I/they will be the very best source for how the market is doing at the very minute you call and can tell you facts about home buying and selling over the last 30 days or 30 minutes... and I will also be able to tell you and send you, what data will be showing up on the more accurate sites in 3 months from now.
My Market focus includes Luxury homes , Foothills 85718, 85750, 85658,85748,85737 and 85711 historic, contemporary, mid century modern, southwest, charming and architecturally significant properties.
Below is the NAR report as reported from Inman news,
NAR overestimated real estate sales by 14%
November existing-home sales up 12% from year ago
By Matt Carter, Wednesday, December 21, 2011.
Balloon houses imagevia Shutterstock.com.The National Association of Realtors says it overestimated home sales by more than 14 percent since 2007 because an adjustment that the trade group makes to data it collects from multiple listing services to account for sales that take place outside of MLSs got out of whack over time.
NAR says it's fixed the problem and "rebenchmarked" statistics going back to 2007, when it said its adjustments began to diverge from previous assumptions about how many sales take place outside of MLSs.
FOR THE FULL REPORT , Please call me .
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