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.


  1. Great job on this David!

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

    Outstanding work!


  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. :-)

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


  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. ;-)

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