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One thing NAR is doing correctly

J. Andrew English J. Andrew English
Real Estate Statistics are typically computed each quarter. % drops and increases are formulated in comparison to that same quarter exactly one year prior. ( Basically Quarter 1 2008 versus Quarter 2 2007 and so forth..)

NAR has figured out that May and June #’s in 2008 are going to be well above what anyone could have predicted. As a result, NAR isn’t waiting to release these #’s. To summarize NAR’s findings, existing sales in May were up 2% and existing inventory was down 1.4%. NAR is computing these #’s with respect to April of 08. (instead of quarter 2 of 2007) NAR released these #’s to the associated press late yesterday.

J. Andrew English – Real Estate Broker

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