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Article Excerpt
Last week, the National Association of REALTORS (NAR) reported existing-home sales rose 5.1 percent to a seasonally adjusted annual rate of 4.72 million units in February from 4.49 million units in January. The news from the South was even better. The region's existing-home sales outpaced the national average, rising 6.1 percent.
Compared to February 2008, the picture was not so rosy. The national average for February 2009 was 4.6 percent below February 2008, and it was worse in the South, which was off 11.2 percent.
Media ran this March 24, sometimes as their lead headline. Unfortunately, none of these figures is completely accurate. In fact, no such reports from the NAR, which is the only source for current national, regional and state real estate data, ever is.
It is not that the NAR spits out inaccurate data. Its...
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