Housing data may have understated extent of collapse

http://www.msnbc.msn.com/id/41715313/ns/business-real_estate/

WASHINGTON — A housing trade association is examining the possibility that the data it releases underestimated the collapse of the housing industry, the Wall Street Journal reported on Monday.

The National Association of Realtors, which issues the monthly existing home sales report that is closely watched by economists and financial markets, may have over-counted home sales dating as far back as 2007, the newspaper said in an article posted to its web site.