1/3 of voters say housing will be the top issue on their mind. Pending home sales up.

[Nick Gromicko]

A recent survey the National Association of Realtors finds that the housing market will one of the most important issues for voters in the 2012 election. Nearly one-third of respondents said housing will be the top issue on their mind when they head to the polls next November.

Housing accounts for more than 15% of the US. Gross Domestic Product. NAR estimates that for every two homes sold, one job is created.

Some recent indicators show that the economy might be starting to rebound, with pending home sales rising strongly in October, according to NAR’s Pending Home Sales Index.

[Michael Larson]

Real Exaggerations: NAR has been overstating home sales for a decade

[Joe Funderburk, CMI]

More like this:

30% will be concerned about the lousy economy and will vote Republican.

25% will be concerned about health care, national security, morality and will vote Republican.

10% will be concerned about having to finally get a job when their unemployment ends (they will vote for Obama).

25% will vote for Obama because he's black or because they got free cigarettes to go to the polls.

5% are dead people and illegal aliens who will vote for Obama.

The rest will vote for Ron Paul as a write in candidate.

[Michael Larson]

December 12, 2011, 4:38 PM ET

Housing Bust to Look Worse With Sales Revised

National Association of Realtors’ estimates of U.S. home sales and highlighted the possibility that the trade group would have to revise its figures downward.

After many months of work, the trade group said Monday that it plans to do just that.

http://blogs.wsj.com/developments/20...sales-revised/