Five years of home sales revised lower, National Association of Realtors, Far fewer homes sold over last 5 years, MLS data

Five years of home sales revised lower, National Association of Realtors, Far fewer homes sold over last 5 years, MLS data

From the Chicago Tribune December 14, 2011.

“Five years of home sales to be revised lower in ‘meaningful’ way”

“If you thought the U.S. housing market couldn’t get much worse, think again.

Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.

NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.

NAR’s existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market.

While NAR hasn’t revealed exactly how big the revision to home sales will be, the agency’s chief economist Lawrence Yun said the decrease will be “meaningful.“

“For the real estate business, this means the housing market’s downturn was deeper than what was initially thought,“ Yun said.

Yun said the database NAR uses to track existing home sales, the Multiple Listing Service (MLS), has led the real estate agency to over-count existing home sales for several reasons.

The MLS database only includes home sales listed by realtors, and excludes homes listed by owners, providing a very narrow view of the market. And because more people are using realtors to list their homes instead of selling them independently, realtor-listed sales numbers have become artificially inflated, said Yun.

In addition, some of the assumptions NAR used in calculating its data have become outdated, since they were based on 2000 Census data.”

Read more:

http://www.chicagotribune.com/business/breaking/chi-existing-home-sales-to-be-revised-lower-in-meaningful-way-20111214,0,2475335.story

31 responses to “Five years of home sales revised lower, National Association of Realtors, Far fewer homes sold over last 5 years, MLS data

  1. Good info CW. I ran across the following this morning. Hopefully, Larry will have a few sales.

    http://www.mediabistro.com/fishbowldc/the-perfect-ugh-christmas-gift_b58654

    Books
    The Perfect Ugh Christmas Gift…By Betsy Rothstein on December 12, 2011 2:24 PMWe all have a certain someone in our lives who’s hard to shop for every time Christmas rolls around. They’re finicky. They return everything. They look visibly distressed and disappointed to the point of pissed when they open their gifts. So why not look to the esteemed gifting advice of Larry Sinclair, who has just the gift for you: It’s his book, Barack Obama & Larry Sinclair: Cocaine, Sex, Lies & Murder?

    If anyone forgets Sinclair, he’s that curly-haired hot mess who rented a room for his own press conference at the National Press Club in June of 2008 to allege a gay relationship with President Obama. For a wild walk down memory lane, watch here.

    On his website he says the book “would make a wonderful Christmas gift for anyone who wants to know the truth about Barack Obama.” He says the thing can be gift wrapped AT NO ADDITIONAL CHARGE and sent to the person it is directed to — God knows we don’t want this ending up in Nanna’s hands considering the accusations include fellatio among other hairy details she doesn’t need to see.

  2. Thanks Zach for all.

  3. Sen. Levin: It Was Obama Who Requested Military Detention of Americans. Impeach Obama

    The cat is out of the bag. It was Obama himself who requested the Senate include the provision to sweep Americans off the street into indefinite military detention without charge or trial. Impeach.

    Sen. Carl Levin (D-MI) on Senate floor explaining it was Obama who requested the provision for indefinite military detention of American citizens without charge or trial (VIDEO.) Levin is a primary co-sponsor of the bill along with Sen. John McCain, and Chairman of the Senate Armed Services Committee. Senator Diane Feinstein recently confirmed that she was unable to excise Section 1031 in an email:

    Senator Feinstein Confirms President and Military Can Detain US Citizens Without a Trial

    Like you, I oppose these provisions. Section 1031 is problematic because it authorizes the indefinite detention of American citizens without due process. In this democracy, due process is a fundamental right, and it protects us from being locked up by the government without charge. For this reason, I offered an amendment to prohibit the indefinite detention of U.S. citizens without trial or charge. Unfortunately, on December 1, 2011, this amendment failed by a vote of 45-55.

    I was, however, able to reach a compromise with the authors of the defense bill to state that no existing law or authorities to detain suspected terrorists are changed by this section of the bill. While I would have preferred to have restricted the government’s ability to detain U.S. citizens without charge, this compromise at least ensures that the bill does not expand the government’s authority in this area.

    VIDEO: Senator Levin

    VIDEO: Anonymous’ Message to the American People

    Anonymous Transcript: Dear brothers and sisters. Now is the time to open your eyes!

    In a stunning move that has civil libertarians stuttering with disbelief, the U.S. Senate has just passed a bill that effectively ends the Bill of Rights in America.

    The National Defense Authorization Act is being called the most traitorous act ever witnessed in the Senate, and the language of the bill is cleverly designed to make you think it doesn’t apply to Americans, but toward the end of the bill, it essentially says it can apply to Americans “if we want it to…” FULL TRANSCRIPT AT YOUTUBE

    Col. Lawrence Wilkerson, former Chief of Staff to Secretary of State Colin Powell

    ACTION UPDATE

    On Thursday December 15 the Massachusetts ACLU will lead a march from Dewey Square to the JFK Federal Building in Government Center, where Senator John Kerry’s and Senator Scott Brown’s offices are located, to protest their votes for S. 1867 National Defense Authorization Act which allows the indefinite military detention of American citizens without charge or trial. WE ARE CALLING FOR SIMILAR ACTIONS ACROSS THE COUNTRY….to Facebook page “Occupy U.S. Senate and Representatives District Offices, No Military Detention of Americans.”

  4. http://www.employeerightsact.com/

    Please pass this around! Fox has been airing this video early in the mornings. It is about the unions and union members. You will enjoy the video.

    God Bless AMERICA and ISRAEL

  5. OT, but this is something on my mind. As I read hither and yon around the blogosphere, it is very apparent that many Ron Paul supporters who are very enthusiastic about him are so “in your face.” It is one thing to avidly support one that you believe in, but it is another to almost arrogantly claim that he IS the answer.

    We all have opinions about whom we think we could support, but there is little room for boasting about anyone, because we are still in a very fluid situation, which will persist probably for another sixty to ninety days.

    For my own opinion, I feel that Paul can well be the choice of many in the primaries, but if he were to become the Repub nominee, he could NEVER win the general election against Obama. The general electorate who will vote in November is vastly more middle-of-the-road, and a vote for Paul then would simply be a vote to keep the Usurper in office.

  6. Interested Bystander | December 14, 2011 at 7:11 am |
    Hey All,
    One last thing and then I’ll go:
    It is my opinion that it is NEITHER party’s obligation to nominate someone who is “electable”, or who can “win”.
    It is my opinion that BOTH parties should nominate the BEST MAN FOR THE JOB.
    This isn’t Jeopardy, or Wheel of Fortune we are playing here folks.
    It’s our LIFE and WELL BEING as a COUNTRY that is at stake.
    When will we learn?
    **********************************
    IB, you know that I appreciate your posts, because you are sincere and your thoughts are worth being shared.

    In response to the above, let me ask you this: Isn’t the “BEST MAN FOR
    THE JOB”, first of all, the one that can unseat the Usurper? I mean, no matter how good the candidate may be, if in Nov. 2012 the incumbent remains, well……..another four years and the country could well have been destroyed beyond repair. Realism vs. idealism. Just what some of us believe.

  7. I agree we need the best man or woman for the job, but we need someone who is electable, and it can be argued that Ron Paul is not the best person for the job. That being said, it’s possible that many of the candidates could be electable once we narrow down the field, even if their poll numbers are not that high right now.

    Based on political meetings lately that I’ve witnessed, it appears Ron Paul supporters have adopted Alinsky tactics interrupting speakers and screaming left and right. No other candidate has supporters that have acted that way in meetings I’ve been to.

  8. This is an example of the disgrace the MSM is and the type of society they wish for us to live in.

    http://newsbusters.org/blogs/mark-finkelstein/2011/12/14/nbcs-chuck-todd-flips-bird-live-national-tv

  9. Tina, I agree about the rudeness of some of the Paul supporters. Another thing, if you’ve ever noticed, some of the various straw polls conducted on-line are most always invalidated because his people load up the results by voting multiple times apparently. There seems to be a certain irrationality among some (putting it mildly).

  10. Yes. I agree, Cabby.

    On another note, I think there’s a very good chance Ron Paul will win Iowa, but little else. Because of that I think the race will be thrown into chaos with a long battle primarily between Newt and Romney. I don’t know if Huntsman can make a late surge. I don’t know if Santorum or Bachmann will make a surge, but right now it seems like it will come down to Newt and Mitt. My only hope is that the damage over the primary season is not so great that the nominee is weakened, whomever that is.

    I am looking forward to seeing whom the eventual VP nominee may be. Will Newt and Mitt team up? Will they pick a minority or a woman, or someone like the Gov. of Virginia? I think it will be interesting and a very important choice.

  11. Ron Paul’s basic theories are let me do whatever I want to as long as I don’t bother anyone else. What I don’t think has sunk into people is that if you don’t build a fence which he is against because it keeps Americans in, when all the illegals flood in, it will impact everyone else as our schools, hospitals and neigborhoods will be overwhelmed with illegals. If you don’t think Iran is a threat as he has said, it impacts everyone else when Iran starts a world war. If you eliminate FEMA and have the churches take over in helping people, as he wants to do, our churches with their limited budgets are impacted. We don’t live in a bubble. The world won’t go away just because you want it to.

  12. Interested Bystander

    Cabby,

    You asked:

    “In response to the above, let me ask you this: Isn’t the “BEST MAN FOR
    THE JOB”, first of all, the one that can unseat the Usurper?”

    My answer is a resounding NO!!!!!!!!!!!!

    The best man for the job is the candidate that can turn this wreck around, not simply someone else in the WH.

    As I have stated many times, how long are we to wait until the best man comes along?

    The truth is, if a GOP candidate is elected, then in 4 years he will be the nominee again, so that will be 8 years we have to wait.

    I’m not willing to wait 8 years, I believe the time is NOW, and I believe the American people are ready.

    I have always voted on ISSUES and not who has an R or D beside their name (except when I voted for McCain in 2008). Romney and Gingrich will simply continue Obama’s policies. Oh they’ll say they are going to “fundamentally change” DC, but they won’t, in my opinion.

    Tina,

    You are so misinformed it isn’t even funny.

    Paul doesn’t want the fence, he wants to actually put our MILITARY on the border to stop the INVASION of our Country. You want people to believe Paul wants an open border, which TOTALLY misrepresents Paul’s policy on the border.

    You could get rid of the border patrol, saving us money, PLUS the Military will actually be doing the job that the Constitution states it should do, which is protect US, not some Country half way around the World.

    As far as Iran, he hasn’t stated it “isn’t a threat” as you claim. He has stated that Iran is insignificant, that it’s military is nothing compared to ours, and that until Iran actually uses the bomb, then they have every right to pursue it.

    When Iran “starts a world war” as you believe they will, then THAT is when we take action. It is against our Constitution to do “preventive” military intervention. You again are believing the media when they state what Iran “intends” to do, when we dn’t know what they will do.

    As far as communities helping each other out, if you think about it, when Paul gets done shuttering many agencies, it will cost the Government so much LESS to pay it’s bills, and Americans will be able to keep more of their money, which means that THEY can decide what organizations to help, whether it be churches, the Red Cross, Salvation Army, or some other helpful organization.

    And Tina, I don’t want “the world to go away” as you suggest.

    I want us to QUIT trying to tell the world how to live, or how best to do this or that.

    We can’t even solve our own problems. Who are we to tell others how to solve theirs?

    Quit misrepresenting what Paul’s policies are, because when you misrepresent Paul’s policies, your argument is moot (or a flat out lie).

  13. Emperor Obama Demanded Power To Indefinitely Detain U.S. Citizens 2/2

    “Obama Administration Demanded Power To Indefinitely Detain U.S. Citizens”

    “White House removed language that would have protected Americans from Section 1031 of NDAA”

    Paul Joseph Watson
    Monday, December 12, 2011
    http://www.infowars.com/
    http://www.prisonplanet.tv/

    Excerpt:

    “Indeed, at the start of the month, Obama administration lawyers reaffirmed their backing for state sponsored assassination.

    Congress has until tomorrow to block the law before it heads to President Obama’s desk. Putting faith in an administration that has formalized state-sponsored assassination of U.S. citizens without trial to block the ‘indefinite detention’ provision of the NDAA bill is naive to say the least.”

    Read More Here: http://www.infowars.com/obama-administration-demanded-power-to-indefinitely-d

    * * * *

    Fast and Furious Mastermind to Visit LBJ Library in Austin, TX – Alex Jones Monday Edition

    Protest AG Holder’s Appearance at LBJ Library in Austin

    “YOU FOLKS THAT HAVE SIGNED ONTO THIS EVIL!! YOU’VE SIGNED ONTO ALL OF IT!! NOT ON MY SOUL!! NO!! NO!! NO!! NEVER!! NEVER!!” – Alex Jones

    THANK YOU, ALEX JONES!! AND… NOT ON MY SOUL, NO!! NO!! NO!! NEVER!! NEVER!! AND… NOT ON MY WATCH, & NOT IN THE USA AMERICAN CITIZEN’S GOD-GIVEN TIME ON EARTH, EITHER, ALEX ; )!!

    * * * *

  14. Sheriff Mack & Alex Jones & American Citizens – We Need to have legal USA Law Enforcement To Immediately Legally Arrest the Serial Criminals who are employed in the USA government!! They are extreme tyrannical scum and they belong behind bars!!

  15. MUST SEE VIDEOS!

    Preview of Today’s Show: Max Keiser, Gunter Spens, Iran, Syria & More!

    * * * *

    ‘Don Jon’ Corzine Spills His Guts to Alex Jones – Infowars Nightly News

  16. CabbyAZ………………
    For somebody to win against Soetoro is all well and good,but the alleged victor also needs to know how to add and subtract,and have some idea what the words FOREIGN POLICY relates to. There are MILLIONS of people who can probably whip Soetoro,verbally,yet that doesn’t mean that he/she can run the country. I would think that somebody would be saying something about the ability to be an ADMINISTRATOR along with all the rest of the necessary qualifications.

  17. While I completely respect everyone’s right to choose the candidate who they believe will do the best job, and return us to Constitutional law,I have to also say that not all of the candidates have the MATURITY that is absolutely necessary for that office. So far I see only one Republican Candidate with that maturity. While I am not yet in his corner I am finding myself DRAWN to his corner. We will Probably see this confirmed at Iowa. I personally think that Newt Gingrich will get the nomination. While I realise that there are some issues which relate to him, I personally believe that he is the ONLY candidate who can defeat Soetoro.

  18. If Romney wins Iowa, it is entirely possible that Newt will win New Hampshire. From that point forward either could still be defeated. I am only saying that I personally believe that in the general election Romney will lose against Soetoro. Newt Gingrich could even lose against Soetoro,but I think that Gingrich is the best candidate for the office of POTUS. He is a bit self centered,and sometimes says things that don’t SEEM to add up, but in spite of those infirmities,I think that he possesses the necessary maturity to hold the office of POTUS,and would at least be an NBC, and not try to take the country into the Marxist Socialist existence. If Soetoro wins it is entirely possible that the US will become a Socialist country,and pathetically few people will even give a damn.

  19. …………..and those of us who DO CARE will seeour country stolen from us by criminals whose only intent is PERSONAL ENRICHMENT at taxpayers expense. We are already on the verge of losing all of our rights under the Constitution. If Soetoro is successful in completely circumventing the Constitution, he will become the Dictator ,and be another Hugo Chavez, and actually supported by the criminal sector of our country. It will be next to impossible to take our country back. It will also be TOO LATE for the MORONS who think up is down to change their minds as well.

  20. We have a hell of a lot to lose in 2012,and for that reason everybody needs to take a serious position, and subsequently vote for the person who you think will do the best job as POTUS. Your FREEDOM is at stake. If you WANT a Castro,or Chavez type country, it could easily happen with the wrong choice. We do not need a CHILD in the office of POTUS. It would be disastorous, even worse than the PRETENDER we now have.

  21. ………..You could even end up with another four years of with Soetoro at the helm………..in uncharted waters. Choose well folks that is all that I am saying.

  22. BYE BYE, i’m out of here!

  23. IB……………….
    Back during the Korean war everybody thought China was insignificant militarily,and would do nothing to intervene in the Korean war. Well guess what……..they DID intervene and in force, with well trained troops as well. That was the biggest part of why Truman FIRED MacArthur who in reality was the ONLY experienced field commander he had. To imply that Iran is not a militarily strong is a very mistaken viewpoint. They have an Army of over a million, and would indeed be a force to be reckoned with. Anyone who thinks that Iran could be defeated by Seal Team 6 is also mistaken. I think that Norman Schwartzkopf would agree. I would not compare the Iranian army to that of Iraq in the Gulf War. While I don’t advocate backing away from anenemy,I do emphatically say that you need to know what your enemy is capable of,and better still have some idea as to how best to attack him, before you even think about going forward. Under estimating the capability of an enemy could and would end in TOTAL DISASTER.

  24. Interested Bystander

    oldsalt,

    I can not tell you how humbled I am that you responded to my comment. I respect and admire YOU.

    First, it wasn’t me who said what I posted, I heard Paul say that Iran is insignificant, I honestly do not know, but I would bet, he is in a better position to make conclusions on Iran than I am.

    So what should we have done in Korea? We sure could NOT simply invade China.

    The whole point is that you can NOT under our Constitution do preemptive strikes on ANY Country. The invasion or attack on another Country has to be PROVOKED, meaning they have to do something to US or one of our allies.

    Let me try it this way:

    I heard an analogy on Wilkow (spell the name correctly), where he suggested that Paul’s policy was like if your neighbor threatened you and told you he was going to go get a gun and shoot you dead. What can you do? There is no legal recourse, oh you can call the police and tell them what the neighbor threatened, and they’ll make a report and all of that, but I believe that the policeman will tell you that they can’t actually do something until the neighbor actually carries through on the threat.

    Or………..you can go get a bigger gun and wait for him at the door, and when he tries to carry through on the threat, you can shoot him first hopefully.

    THAT’s what I am trying to point out in my comment. It is against our Constitution (which I know you know well) for us to invade another Country without being attacked first, AND the House of Representatives has to declare war.

    Korea, Viet Nam, Iraq and Afghanistan have ALL been ILLEGAL wars in my opinion. Not one of these wars were declared by the House.

    But wait, they weren’t called “wars” now were they? They were “police actions” or some other name that those who want nothing more than to “feed the rich while they bury the poor” (thank you Guns and Roses).

    We simply do NOT fight wars or conflicts or police actions like we should.

    Wars are nasty, and need to be ended as quickly as possible. For us to be 9 and 1/2 years in Iraq, and over a decade in Afghanistan without getting a surrender just baffles me.

    Although I agreed with going to war (which was NEVER declared) in BOTH Iraq and Afghanistan, the wars were NOT carried out in the best interest of our COUNTRY.

    I would suggest that if we went in and destroyed the military and cities and factories and the such until they surrendered, then maybe, just maybe other Countries would think twice or three times before they tried something against us.

    Again, thanks for responding to little insignificant me.

    I am honored.

  25. Interested Bystander

    oldsalt,

    Although I would agree that Newt has the experience, know how, intelligence, and everything else needed to be President, I’m not sure he is going to be willing to make the HARD decisions that need to be made.

    I believe he KNOWS what needs to be done, but he doesn’t have the guts to actually put through what needs to be done.

    It just doesn’t compute in my brain how anyone would want to go off the cliff at 100 mph rather than 150 mph. The results are the same, but you have more time to think about it going 100 mph.

    I believe that this is exactly what those who want Newt or Romney want for our Country.

    What REALLY gets me is that we have the Constitution that is SUPPOSED to be our guideline, and just like with the “war powers act” and welfare and social security and the EPA and FDA and the DoJ and DoE and any number of UNCONSTITUTIONAL agencies, this document is IGNORED.

    This Country was born on Freedom and Personal Liberities and is SUPPOSED to be a REPUBLIC not a “Democracy” as we have been indoctrinated in to believing.

    In a REPUBLIC, you are supposed to elect representatives who will do what is best for the COUNTRY, not it’s citizens or several states, but the COUNTRY as a whole.

    When our Government does that, just watch our Country thrive once again.

    It won’t happen in my lifetime though, and I’m truely saddened that the citizenry has ALLOWED the Government to become this MONSTER it has become.

  26. The entire middle east is a GIANT POWDER KEG, and whoever becomes the POTUS in 2012 had better have a damn good understanding of how to keep the fuse to that powder keg from being lit. If it should explode the Socialist states of America will find itself in DIRE STRAITS, because Russia,and China both will come to the aid of the middle east with a level of military strength that the US cannot match. Our carriers could easily become floating infernos. The only meaningful OFFENSIVE force left is our undersea forces. But even this( thanks to SLICK WILLY, and Charley Treih) is seeing our strength mitigated. It is a direct result of our missile GUIDANCE technology having been GIVEN to the Chinese by Clinton. He should have been arrested and tried for treason. At that time our missile guidance technology was CLASSIFIED information……..as is our undersea listening capability, which we recently discovered has been compromised as well. There is little doubt in my mind that this was perpetrated by certain members of our senior pentagon staff as well. When a Chinese sub can fire a missile 50 miles off of our own shores without being detected somebody has either deliberately compromised our hearing,or it’s locations have become known to our enemies. This could have only occured via high echelon brass selling out to our enemies. This tells me that our undersea force may very well now be compromised. The sick little slime who sell our countrie’s secrets to the enemy, need to be caught prosecuted and imprisoned,or executed. They are BASTARDS of the highest order. For Clinton to GIVE our guidance technology to the Chinese was a traitorous act of the first magnitude. I am certain that the secret positions of our undersea listening capability has also been given to our enemies, possibly by the present administration.

  27. IB…………………..
    As always your logic is top line. Perhaps that is why I enjoy reading what you have to say. Now all we have to do is convince all the MORONS out there, (who want everybody else to do their thinking FOR them) exactly what REALITY IS.

  28. It would seem to me that if there ever was a time for God to intervene in world affairs it could easily be NOW. I say this because whoever becomes POTUS in 2012 is going to have to be either a relative of God, or the man himself. Perhaps a few bolts of God’s lightning correctly aimed,would bring a permament end to the lunacy that seems to plague our society,and put us back into the real GODLY GROOVE.

  29. Murder Inc: Alex Jones Monday Edition

    Comments Under Video:
    “I’ve been watching Alex for a long time and it’s just getting ridiculous that all this shit is taking place and yet people still ignore it because they think Alex is exaggerating…. that he’s a fear monger… and the facts are out there!! But all they do is call Alex a fear monger when shit is exploding all around us. Bills are being passed 97 to 3 to put you in FEMA camps and all the sheep keep saying Obama will veto it, like it’s a popularity contest and not tyranny!! WTF people!!??! uckpwnz 2 days ago 31”
    ________

    @Buckpwnz apparently today obama didnt veto it, in fact he was more than happy to pass the bill

    * * * *

    “A Journey Into Slavery” – Alex Jones Sunday Edition 1/5

    * * * *

    Goldman Sachs & Gaddafi & Sarkozy : the MONEY you never heard of…

    * * * *

  30. OUTSTANDING MUST SEE VIDEOS!!

    Ventura Doesn’t Buy The Bin Laden Hoax 1/3

    “There’s more Hells Angels than Al Qaeda” Jesse Ventura

    “Former Navy SEAL and Governor of Minnesota Jesse Ventura has questioned Barack Obama’s official narrative regarding the raid on Osama Bin Laden, telling the Alex Jones Show of his suspicions that Osama died years ago, and expressing disbelief that the man seen flicking between TV channels in the video released by the White House Saturday was actually Bin Laden.”

    “I’ve been lied to so much I question everything the government tells me,” Ventura said, adding that the Jessica Lynch and Pat
    Tillman cover-ups made him suspect the official version of last Sunday’s events.

    “I don’t know what to believe, that’s the disturbing thing about being a United States citizen,” said Ventura, noting how the media has for the most part simply regurgitated everything the White House claimed about the raid.”

    * * * *

    Exclusive: ‘Bin Laden Dead’ Hoax Exposed

    * * * *

  31. Pingback: 2011 Worst year for new home sales on record, November home sales indicator of growth?, Existing home sales revised downward, Accurate reporting? | Citizen WElls

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