NAR takes its role as a leading source for housing information very seriously, and toward that end, NAR Research announced the results of a year-long rebenchmarking process for existing-home sales on Wednesday, December 21.
All major statistical data series go through periodic reviews and revisions to ensure that sampling and methodology keep up with changes in the market. Factors like population changes in sampled areas, growth in MLS coverage areas, declines in for-sale-by-owner transactions, and some individual sales being recorded in more than one MLS have contributed to an updrift in EHS data over the past few years, and this rebenchmarking will ensure more accurate and reliable information.
Home buyers and sellers will not be affected by any revisions to NAR's existing-home sales data. Median home prices remain the same, and the data has no impact on consumers who want to buy or sell a home in today's market.
- Presentation slides: Rebenchmarking of Existing-Home Sales
- Q and A: Rebenchmarking of Home Sales
- Revised Existing-Home Sales: Impact on Consumers and REALTORS®
- Video: Chief Economist Lawrence Yun explains the rebenchmarking