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Title: Existing Home Sales Come As Expected At 4.13 Million, Distressed Home Sales Rise, One Year Of Home Inventory
Source:
zero hedge
URL Source: http://www.zerohedge.com/article/ex ... sales-rise-one-year-home-inven
Published: Sep 23, 2010
Author: Tyler Durden
Post Date: 2010-09-23 13:08:19 by Nebuchadnezzar
Keywords: None
Views: 618
Comments: 6
Existing Home Sales Come As Expected At 4.13 Million, Distressed Home Sales Rise, One Year Of Home Inventory Submitted by Tyler Durden on 09/23/2010 09:09 -0500 Housing Inventory Housing Market recovery Nothing good in the home sales front: per the NAR: "Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009." Expectations were for a SAAR of 4.1 million so basically the number came very much inline, yet the computers go apeshit. And here is good ole' Larry Yun's spin on things: "The housing market is trying to recover on its own power without the home buyer tax credit. Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty." Some other observations: "The national median existing-home price for all housing types was $178,600 in August, up 0.8 percent from a year ago. Distressed homes rose to 34 percent of sales in August from 32 percent in July; they were 31 percent in August 2009." And yet the most important metric is the months supply: "Total housing inventory at the end of August slipped 0.6 percent to 3.98 million existing homes available for sale, which represents an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July." So yes, there is a year's supply of existing homes. And this does not account for the shadow inventory.
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#1. To: All (#0)
Of course, none of this means anything given that the housing market is being manipulated by keeping some 8 million foreclosed homes off the market.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
He duped an article because he wanted his own title. And now he posted, within minutes, an article that offers no new information about the same issue. What were you telling Brian S?
What were you telling Brian S? You don't like how Stone runs this place? Well shut the fuck up you wining little bitch and go back to Liberty Post where you foolishly gave money to Goldi. GFY War.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
Chuckles...gotta love Keyboard Kommando's like you...let me guess...you're either this: or this:
So which one? My guess is the fat fuck eating on the beach.
six foot, 195lbs. Hardly.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
#2. To: A K A Stone (#1)
(Edited)
#3. To: war (#2)
He duped an article because he wanted his own title. And now he posted, within minutes, an article that offers no new information about the same issue.
#4. To: Nebuchadnezzar (#3)
#5. To: Nebuchadnezzar (#3)
#6. To: war (#5)
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