Housing Data Report May Be Unreliable

Posted by Tim Hope on 5/5/08 9:06 am

The old computer adage of “garbage in garbage out” also applies to economic data.  The most recent example rests in a recent report on home prices.  While the report last week of the 12.7% decline in the S&P/Case-Shiller Home Price Index was quoted as a “record” and “fastest rate ever” by the Associated Press, the report does not clearly point out that 78% of the 300 metropolitan regions that the National Association of Realtors tracks had price increases for the period. 

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