Admittedly, our National Association has been taken a beating of late for its adjusting and re-adjusting (and re-re-adjusting) of its 2007 homes sales forecasts. That, along with the seeming “It’s Always Sunny in Real Estate” spin that many critics read into the latest iteration of its public awareness initiative, have gotten us to the point that many in the press and the RE.net are questioning NAR’s credibility, both as a distiller of housing industry economic data and a truth teller when it comes to what’s really in consumers’ best interests in today’s real estate markets.
While NAR (or VAR either, for that matter) is not above criticism, there are always (at least) two sides to every story. There are even multiple facets to the same story. And there are certainly multiple ways of collecting and analyzing data, and multiple, sometimes contradictory, conclusions that can be drawn from that analysis. I’ll not belabor the point, except to say this: In particular, I believe that NAR’s Chief Economist Lawrence Yun has gotten a bad rap for what some see as his too-rosy forecasts and well-spun public comments about the health of the real estate economy.
Thankfully, he now has a new platform for explaining himself and the inner workings of NAR’s econometrics, and it’s worth a read. It’s not a blog (yet), but NAR has begun to post commentaries by Yun at realtor.org behind the “research” tab. In particular, his recent post on some of the reasons for divergent home price trends is a spin-free, must-read.
I’m glad Lawrence is finding his voice. He’s a fresh, thoughtful, truth-telling asset to NAR. Would that more in the media (and, yes, the real estate blogosphere) were as thoughtful.
Now if they’d just turn his commentaries into a blog, we could all comment….
(I’m told Lawrence’s commentaries will be posted with some frequency at http://www.realtor.org/research, in case you want to bookmark it.)