January home sales figures revised sharply upward--software problem blamed for faulty data

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10:49am 03/07/01 Home sales revised sharply higher--software problem blamed for faulty data

By Rex Nutting

Data on home sales have been revised dramatically by the National Association of Realtors, which blamed a software problem for its faulty data. Rather than falling nearly 7% in January, existing home sales actually rose about 4% to an annual rate of 5.13 million, the realtors said. The updated numbers show that the housing market is not weakening appreciably as the economy slows.


-- Carl Jenkins (somewherepress@aol.com), March 07, 2001


Oops, didn't see Carl's post when I started a new thread on the same topic. More details in the story from Reuters, FWIW.


-- Andre Weltman (aweltman@state.pa.us), March 07, 2001.

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