National Existing Home Sales Fall 4.6% & Prices Down 15.5% YOY in February (With an Aside About Local Numbers)

The National Association of Realtors (NAR), the largest trade association for real estate agents, has just released numbers for existing home sales in February 2009. The title of their Press Release is "Existing Home Sales Rise in February."Which is true, there was a small rise from January 2009 to February 2009. But Barry Ritholtz of The Big Picture points out this year, as he has for the past