National home sales figures will be lowered dating back to 2007 after the private trade group that collects them said the numbers were too high, but locally a big change is not expected.
The National Association of Realtors said Monday it will release the downward revisions for previously occupied homes on December 21. Among the reasons for the inflated figures, the Realtors group says: changes in the way the Census Bureau collects data, population shifts and some sales being counted twice.
The President of the Peoria Area Association of Realtors Laura Martin says many of those factors did not affect the local market. She says the area didn't have the huge gains before the bottom fell out. There are not as many foreclosures here as there are in other areas of the country.
Martin, says the numbers here have ranged from down 13-percent in 2009 to three-percent this year. She says the area is seeing slow steady growth.
