“CoreLogic Blasts NAR for Overstating Home Sales”
If you looked at this headline from a recent UPI article, you would think that CoreLogic attacked the National Association of Realtors (NAR) for purposely misleading the public regarding the real estate market by misstating the number of annual home sales. Some have mentioned the word 'conspiracy'. Others have suggested a federal investigation. Let's take a more in-depth look at the situation.
Did CoreLogic claim the NAR numbers were inaccurate?
Yes. In CoreLogic's most recent monthly report, which was five pages long, there were two paragraphs addressing the issue:
Although it’s been widely reported that the National Association of Realtors’s (NAR) existing home sales data fell only 5% to 4.9 million in 2010, down from 5.2 million in 2009 and flat relative to 2008, the CoreLogic data indicates otherwise...CoreLogic existing home sales data did not experience an increase in 2009 and that sales fell again slightly in 2010.