Well this is interesting. Not surprising… but interesting none the less.
One of the most crucial and closely watched measures of the housing market is the existing home sales number, which is published monthly by the National Association of Realtors (NAR).
This figure, which is revised modestly each month, is about to get the mother of all revisions.
Apparently, the NAR mistakenly included some new homes sales figures and double counted some of the existing home sales figures.
This means that the health of the housing market for the last five years has actually been weaker than we thought.
– Sam Ro, Business Insider
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