Wednesday, February 22, 2006

Update V: NVAR Discrepancies Resolved

The NVAR data for January 2006 for Greater Northern Virginia has been corrected. Jill, the Communications & Media Relations Manager for the NVAR, wrote "the numbers are now correct ... and final." The data has been updated and is correct on the following webpages:

Home Sales Statistics January 2006 (NVAR)
Greater Northern Virginia Home Sales Spread Sheet (NVAR)

Sales prices for the first month of 2006 in Greater Northern Virginia ( including Prince William, Loudoun, Fauquier, Culpeper, Madison, Clark, and Rappahannock counties) also followed an upward trend as did closer-in Northern Virginia region. The average sales price was up 13.4% from the January 2005 average of $440,426 to the January 2006 sales price average of $499,456.

Units sold were 28.1% below January 2005 levels with 2,292 units sold in January 2006.

Thanks to my readers who originally alerted me to the discrepanciess in the NVAR data. Keep a sharp eye open. Bubble Meter will continue to seek the truth about this speculative episode.

6 comments:

  1. Great job on this David!

    The power of a little blogger can shake up the largest bureaucracy!

    Outstanding work!

    Tom

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  2. Thanks. It was a decent amount of work to do a bunch of calculations and also to send a dozen or so emails. Definitely worthwhile. :-)

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  3. Great work, it may not seem like it, but it is truly a big win.

    jb

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  4. No more wriggle room to fudge the numbers. At this rate by September every home and condo will be for sale but only one will close and that for $1.4 billion. ;-)

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  5. Um, where are the median numbers? Since when are we "averaging?" A single million dollar sale can throw the whole shebang to the upside.

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  6. The NVAR has been doing averages for a while.

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