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Re-benchmarking of Existing Detached Home Sales

Explore the re-benchmarking of existing detached home sales in California on March 15, 2013. Discover the downward revision to sales data, while median home price and local statistics remain unchanged. Gain insights into factors leading to variations in sales figures and understand the impact of expanded data sample sizes and increased coverage. Learn about the shift towards more REALTOR®-assisted home sales and the influence of electronic data retrieval methods in enhancing data accuracy.

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Re-benchmarking of Existing Detached Home Sales

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  1. Re-benchmarking of Existing Detached Home Sales March 15, 2013

  2. What is Getting Revised? • Downward Revision to California Existing Detached Home Sales • No Revision to Median Home Price • No Revision to Local (County/Region) Sales and Price Statistics • No Revision to Unsold Inventory Index (Months of Supply of Inventory) • No Revision to Median Time on Market • No Revision to Housing Affordability Index • No Revision to Distressed Sales Statistics • No Revision to Pending Home Sales Index

  3. Reported and Re-Benchmarked Annual Existing Detached Home Sales

  4. Previously Reported (Old) and Re-Benchmarked (New) Annual Existing Detached Home Sales (C.A.R. and N.A.R.)

  5. CA Sales of Existing Detached Homes(Annual)

  6. CA Sales of Existing Detached Homes (Monthly)

  7. Reasons for the Difference in Sales Before and After Re-Benchmarking • C.A.R. expanded data sample size and increased coverage over more sampled geographic areas • More data is being retrieved electronically through a more reliable process, which allows C.A.R. to collect data more accurately and with more consistency across the board • Fewer FSBO home sales and more REALTOR®-assisted home sales • More Homebuilders seek REALTOR®-assistance in listing properties on MLSs

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