Real Estate Data Glitch In California

Computer Problem Causes Incorrect Data Being Sent For a Year

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Real Estate Data Glitch In California

An update a year ago to a multiple home-listing computer system has just been discovered to have been responsible for sending incorrect information concerning the real estate market in the San Diego, California area, according to a story in today's Wall Street Journal (WSJ). The error was discovered by an independent economist who raised questions about the data last week.

According to the WSJ, the California Association of Realtors reported that San Diego home sales in April were up about 63% from a year earlier; they are now going to be revised to showing only a 20% increase. In addition, whereas the data showed an 89% increase in home sales in May, it will now be reduced to only 6.5%.

A good example of garbage in, garbage out, and the garbage not being noticed for a long time, either.

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