Friday, February 17, 2006

Update: NVAR Data Discrepancies

There are still discrepancies in the NVAR data regarding what happened in January 2005 for the Greater Northern Virginia market.

Please See:

Original Post (Bubble Meter, Feb 15)
Home Sales Statistics January 2006 (NVAR)
Greater Northern Virginia January 2006 Home Sales Report (NVAR)
Greater Northern Virginia January 2005 Home Sales Report (NVAR)


Today, I spoke with Jill Landsman who is the Manager, Communications & Media Relations for the Northern Virginia Association of Realtors. She seems legitimately concerned about getting to the bottom of the discrepancies between the 417,495 and 440,426. She recalculated the data for January 2005 in the Greater Northern Virginia area and came up with 417,395 as the average sales price for condos and single family homes. What is the cause of this discrepency?

Jill assured me that the discrepancies will be fixed by the end of next week.
Posted by David at 4:35 PM

8 comments:

  1. grimFebruary 17, 2006 1:38 PM

    Way to go David!

    ReplyDelete
  2. DavidFebruary 17, 2006 1:46 PM

    I have some inside information which leads me too believe that the original 440,426 number is correct. That would mean that the appreciation rate is in the single digits (~9.1% and not the listed 15.2%). Of course if we had access to the MRIS we could confirm the numbers ourselves.

    This discrepency between the two numbers should be resolved sometime next week.

    ReplyDelete
  3. Rob DawgFebruary 17, 2006 3:15 PM

    Kudos for kepping on top of this. I still suspect it is conflating either cachement (area) or content (SFRs vs all units).

    That said I think we all should use this as a reason to open up the MRIS/MLS to all.

    ReplyDelete
  4. DavidFebruary 17, 2006 5:01 PM

    "(~9.1% and not the listed 15.2%)"

    The '~' is an about sign and not a negative sign. Just in case there was any confusion.

    ReplyDelete
  5. MariniteFebruary 17, 2006 5:03 PM

    Yes, we have discrepancies over here in Marin too.

    Marinite
    Marin Real Estate Bubble

    ReplyDelete
  6. DavidFebruary 17, 2006 5:14 PM

    Marinite,

    Coul you please elaborate on what type of discrepancies?

    ReplyDelete
  7. MariniteFebruary 17, 2006 5:20 PM

    Just look at my latest post. Basically, we have a larg realtor (who is good about publishing their data) saying Marin's y-o-y SFR sales price is DOWN -5.7% whereas our local news paper is saying it is up 2%. Both, as far as I can tell, are comparing apples to apples (i.e., SFR). The number of sales is also discrepant but I didn't deal with that one.

    ReplyDelete
  8. AnonymousFebruary 18, 2006 1:38 PM

    This is great work, David, and like your profiles of individual homes, adding real value to the debate with info found nowhere else.

    ReplyDelete

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