New Mexico Business Journal Weekly story reads as a press release from the ever-cheery National Association of Realtors who say Home Sales Rise Again. This part is interesting:
The numbers could be even better, if it weren’t for poor appraisals, says the Realtors association. While pending sales of existing homes - those with signed contracts but not closed - indicate stronger activity, some contracts are falling through from faulty valuations that keep buyers from getting a loan, said Yun.
The NAR calls the appraisal problem serious, and says complaints about faulty appraisals have been snowballing across the country.
Floyd Norris says in his NYT's blog: