Damned liars, lies, and statistics

The Illinois Association of Realtors dramatically over-reported (ahem, lied) the median price of condominiums sold within the city of Chicago in May, with the price tumbling 23 percent year-over-year, not rising 10.3 percent as the trade group said.

In February, questions arose about the accuracy of home sales data as reported monthly by the National Association of Realtors, and whether the trade group had been overestimating the volume of existing home sales since 2007. [ Chicago Tribune ]

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