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Message
re: U.S. existing-home sales dip 2.2% in May
Posted on 6/22/10 at 11:53 am to Doc Fenton
Posted on 6/22/10 at 11:53 am to Doc Fenton
I think it may be as well. Its hard to judge where the bottom might be without knowing enough about how many of those Wachovia/Countrywide-esqe ARMs got refi'd in this last wave, or how quickly banks need to move their mega-huge pile of REOs. I'm afraid re-defaults from the various gov programs are going to drag on housing prices for a long time.
1
Posted on 6/22/10 at 11:58 am to kfizzle85
quote:
Google was not able to access this page to check for updates. This page may be unavailable or have other restrictions that prevent Google from getting updates.
Posted on 6/22/10 at 12:46 pm to kfizzle85
Posted on 6/22/10 at 12:52 pm to kfizzle85
This is pretty awesome too: LINK ][LINK]
quote:
But if you want to see just how much of an impact federal initiatives have had on home prices, look no further. On Monday, the US Treasury and the Department of Housing and Urban Development (HUD) began publishing a monthly ‘Housing Scorecard,’ which lays it out pretty clearly.
Posted on 6/22/10 at 1:31 pm to kfizzle85
Posted on 6/22/10 at 1:38 pm to Tiger JJ
quote:
It's truly amazing how often those darned "expectations" about housing turn out to be wrong.
+1
Never ceases to amaze.
Posted on 7/22/10 at 9:10 am to Doc Fenton
quote:
The $179.6k price
Revised all the way down to $174.6k for May, but then June pops up to $183.7k (highest since 2008). Go figure.
Those median numbers really are screwy. I guess there are a lot of mega-discounts going on with high-end homes now.
One third of sales still from foreclosures, and annualized sales volume now below 2007 levels again.
This post was edited on 7/22/10 at 9:17 am
Posted on 7/22/10 at 9:17 am to Doc Fenton
Does this effect your personal outlook for the next 3-6 mos at all?
Posted on 7/22/10 at 9:20 am to kfizzle85
Not too much. Low volume as expected, but nothing earth-shattering, and it's hard to interpret the median price data, although I suppose it's somewhat relieving that it didn't drop. I don't know what's going to happen next.
Posted on 7/22/10 at 9:22 am to Doc Fenton
Word.
Posted on 7/22/10 at 11:25 am to kfizzle85
Posted on 8/24/10 at 9:04 am to kfizzle85
Holy shite, the seasonally adjusted volume just dropped 27.2% m-o-m from June to July!
Median sales prices, on the other hand, only dropped 0.2% m-o-m, from $183.0k in June to $182.6 in July. Median prices actually went up in the West and the Northeast.
Not many people with average homes wanting to cut selling prices apparently...
Median sales prices, on the other hand, only dropped 0.2% m-o-m, from $183.0k in June to $182.6 in July. Median prices actually went up in the West and the Northeast.
Not many people with average homes wanting to cut selling prices apparently...
Posted on 8/24/10 at 9:13 am to Doc Fenton
Never thought the economy could get this bad. Nothing near 1929 but this really makes me worry.
Posted on 8/24/10 at 10:55 am to Tiger JJ
quote:
I actually don't use RSS for Bloomberg. I have so many other subscriptions that I don't think it would be additive. They are also behind a lot of the time
I didn't see this the first time. What sites do you use for news? I've got a crapload of blogs obv, but I like to get the news stories as well. Bloomberg seems to catch everything, marketwatch often misses a lot.
Posted on 8/24/10 at 5:31 pm to LSURussian
quote:
Who besides Lawrence Yun didn't expect sales to dip after the government incentives expired?
Of course. Once you start a giveaway program, people will demand that it continue.
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