San Diego home sales not quite as good as Realtors said they were


We're used to Realtors spinning statistics to try and cast the most positive light on the bleakest situations, but this is a pretty new one: Realtors releasing data that is just plain wrong.

The Wall Street Journalreports (subscription required) that "The California Association of Realtors expects to make sharp downward revisions in its recent monthly reports of soaring home sales in the San Diego area, Robert Kleinhenz, deputy chief economist of the trade group, said in an interview. Those revisions will mean modest downward revisions in statewide sales, he added." (emphasis added)

Then later in the piece: "The California Realtors have reported that San Diego sales in April were up about 63% from a year earlier. Mr. Kleinhenz said that is expected to be revised downward to a gain of about 20%. For May, the group reported an 89% increase in sales in San Diego; that will be slashed to about 6.5%, the economist said."