One thing NAR is doing correctly
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