Housing Sales
#1
Posted 27 December 2006 - 01:41 PM
is Month Over Month increase from last month of October which was
at depressed levels.
Check the following snip from Bloomberg:
The number of homes completed and waiting to be sold rose 51 percent to a record 169,000 in November from the same month last year. Sales of new homes were down 15 percent in November from the same month last year.
A report tomorrow from the National Association of Realtors may show that sales of existing homes in November fell to a 6.19 million pace from 6.24 million the prior month, according to a Bloomberg survey
Note that new home sales are DOWN 15% from last year.
So, has housing sales bottomed out? may be or may be not.
My understanding is that beginning in January 2007 a whole bunch of
ARM's will be adjusting upwards. Until that change has taken effect it
is hard to say housing has seen the bottom.
#2
Posted 27 December 2006 - 01:59 PM
If housing market bottomed according to this report, the rate will go higher next year. Let's see how the TNX performing. It looks going higher though.The much touted 3.4% increase in new home sales in the news today
is Month Over Month increase from last month of October which was
at depressed levels.
Check the following snip from Bloomberg:
The number of homes completed and waiting to be sold rose 51 percent to a record 169,000 in November from the same month last year. Sales of new homes were down 15 percent in November from the same month last year.
A report tomorrow from the National Association of Realtors may show that sales of existing homes in November fell to a 6.19 million pace from 6.24 million the prior month, according to a Bloomberg survey
Note that new home sales are DOWN 15% from last year.
So, has housing sales bottomed out? may be or may be not.
My understanding is that beginning in January 2007 a whole bunch of
ARM's will be adjusting upwards. Until that change has taken effect it
is hard to say housing has seen the bottom.
#3
Posted 27 December 2006 - 02:10 PM
#4
Posted 27 December 2006 - 02:55 PM
#5
Posted 27 December 2006 - 03:17 PM