Damon Darlin over at The Walk Through, the real estate blog of the New York Times, audits the predictions of the National Association of Realtors over the past few years in a fascinating post.

He finds that the forecasters tend to be on the negative side, each year forecasting a decline in real estate and each year being proven wrong with a rise in sales volume. In fact during the last few years their predictions of decline have differed by as much as 14% in reality.

Each year they have argued it is different and that this year sales will decline. But history keeps proving them wrong.

The housing bubble that never was?