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.
Posted by David at 6:55 PM

5 comments:

  1. AnonymousFebruary 22, 2006 4:20 PM

    Great job on this David!

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

    Outstanding work!

    Tom

    ReplyDelete
  2. DavidFebruary 22, 2006 4:30 PM

    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. :-)

    ReplyDelete
  3. grimFebruary 22, 2006 10:42 PM

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

    jb

    ReplyDelete
  4. Rob DawgFebruary 23, 2006 8:07 AM

    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. ;-)

    ReplyDelete
  5. DavidFebruary 23, 2006 3:15 PM

    The NVAR has been doing averages for a while.

    ReplyDelete

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