Firm Says NAR Consistently Overstates Sales

New York, NY, Feb. 17, 2010 -- The National Association of Realtors has overstated home sales for 10 years and last year overestimated sales by 15 to 20 percent, according to CoreLogic.

In its Market Trends report, CoreLogic reported sales totaled only 3.6 million in 2010, down 12 percent from 2009. By comparison, NAR reported sales fell only 5 percent in 2010 after rising in 2009, and were flat relative to 2008. CoreLogic said sales did not actually rise in 2009

CoreLogic said the faulty sales numbers caused the association to understate its measurement of inventory.