Confusing Housing Statistics
“U.S. Home Sales Fell 26% in October.”
—The New York Times (11/23/2010)
“Home Sales Fell 2.2% in October.”
—The Wall Street Journal (11/23/2010)
So which is it?
Both, actually.
Home sales fell 26% in October, 2010 compared with October, 2009.
And they dropped 2.2% compared with the preceding month (September, 2010).
However, the real statistic of note for the Twin Cities market is the year-over-year number: down 41%.
That’s not much of a surprise to local Realtors.
The only thing dulling the sting a bit is that the October, 2009 numbers were juiced by the (then-looming) tax credit expiration, one month away (November 30, 2009).
