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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (112796)	3/26/2008 12:06:11 AM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

Good question. That spike is actually in February 2007, when the NAR reported SA sales as 6.69 million (revised down to 6.6 million). That brought out the bottom callers in February 2007! What appears to be happening (during the bust) is the weaker sales months like January and February are holding up better than the stronger months. So the seasonal pattern has changed (much flatter sales from month to month) - but the NAR is using the old seasonal pattern to adjust the numbers. The bottom line is February is really an insignificant month for existing home sales. March matters - so we will know much more next month.