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The Truth About NAR’s Home Sales Numbers

March 25, 2014 11:27 am

Up or DownThe National Association of Realtors (NAR) released their latest Existing Homes Sales Report last Friday. The year-over-year comparison of overall sales did not paint a pretty picture. NAR itself called the sales numbers “subdued”. Other media sources used stronger terminology. There is no doubt that home sales were lower this February (4.60 million) than last February (4.95 million). However, a closer look at the report gives us some evidence as to why that is. Last year, of the 4.95M homes sold, 25% were distressed properties (foreclosures and
short sales). This February, only 16% of
sales were made up of distressed properties.

WHY IS THIS IMPORTANT?