Third Quarter NAR Data Released

Posted on November 15, 2005 by grim

The NAR Released the Q3 Existing Home Sales data today, that data includes both the Median Sales Price and Total Sales for the quarter.

Median Sales Price

Q3 Data was as expected, and realize that Q3 data is a lagging indicator that includes sales from July, August, and September. We’re currently in the right in the middle of Q4. In a previous post I called “Top” in September, I believe that fits in with the NAR data released today.

The only MSA covering New Jersey that reported a decline in the Q3 numbers was the Edison, NJ (about a 2% decline) . Other areas showing declines were: Albuquerque, Charleston, Colorado Springs, Decatuar, Dallas-FtWorth, Green Bay, Kankakee, Memphis, Minneapolis-Saint Paul, Pittsfield, Rockford, Sarasota-Bradenton-Venice, Southbend, Souix Falls, and San Francisco-Oakland-Fremont.

Also released were total sales (seasonally adjusted).

Total Sales by State

Again, this was as expected, Q3 is historically the strongest quarter in terms of sales.

If anyone has the Q2 data, I’d love to have a copy, I’m looking to whether the Q2 numbers were revised upwards or downwards for this area.

Thanks,
James

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8 Responses to Third Quarter NAR Data Released

  1. RentinginNJ says:
    November 15, 2005 at 4:56 pm

    Grim,

    Check your email. I sent you the second quarter file. One thing I noticed, is that a few areas have N/A’s for third quarter prices. These are “at risk” areas such as Reno NV and Denver CO. I wonder if this means anything?

  2. grim says:
    November 15, 2005 at 8:52 pm

    Thanks, everything checked out as far as the preliminary and revised numbers. As for the N/A, not sure why that could be. I’ll be calling the NJAR tomorrow inquiring about the Q3 NJ Data..

    jb

  3. grim says:
    November 15, 2005 at 10:03 pm

    Readers interested in NAR data, in particular those who have been following the NAR anti-bubble campaign, should head on over to Bubble Meter.

    Bubble Meter

    Specifically, the post on “NAR’s Housing Market Reports”, which shows most of the reports are largely BS.

    grim

  4. David says:
    November 15, 2005 at 11:23 pm

    Grim,

    Thanks for the kind words. I am working hard in publicizing the BS in these NAR reports. I have contacted the media about these bogus housing reports.

  5. grim says:
    November 16, 2005 at 7:24 am

    David,

    No problem, good work, nice catch to everyone involved in the anti-anti-bubble campaign.

    For those readers who aren’t sure what the anti-bubble campaign is, see the following link:

    NAR Anti-Bubble Campaign

    This entire campaign is largely BS, it’s aimed at spouting the same myths we’ve heard time and time again, except this time they’ve formalized these reports into handouts. I’ve even heard that realtors are handing these reports out to prospective buyers are the first sign of bubble-talk.

    Oddly, there is only a single NJ report, for the Trenton-Ewing MSA:

    Trenton, NJ

    Take a look and tell me if it’s convincing to you. Then take a look at some of the other reports.

    Caveat Emptor,
    Grim

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