Housing

With New Data Showing Housing Sales Slowing Here’s Why You’ll Want To Be In Cash

Housing Sales and Inventory

NAR data on housing sales showed the largest July decline since 2011, cutting the annual sales volume growth rate by 47% since March. However, while the growth rate is slowing, total sales volume was the heaviest for July since the peak of the housing bubble in 2005. Heavy but declining volume is a warning sign that…

Low Rates, Low Inventory, and Raging Inflation Create The Fed’s No Win Housing Situation

Record Low Inventory To Sales Ratio

The NAR reported that the median US existing home sale price for sales that settled in July was $234,000, which puts the annual inflation rate for house prices at 5.6%. That’s softer than the June closed sale price inflation rate of 6.5% but still way above what the BLS is recognizing for the housing inflation component…

Here Are Three Big Reasons You Should Feud With The NAHB Homebuilders Housing Market Index

How Survivorship Bias Infects The NAHB Survey- Click to enlarge

The Wall Street Journal reported today that: U.S. Home-Builder Confidence Hits Near-Decade High “An index of builder confidence in the market for new single-family homes rose one point to a seasonally adjusted level of 61 in August, the National Association of Home Builders said Monday. A reading over 50 means most builders generally see conditions…

Case Shiller Is Too Slow- Here’s The Real (e)State of The US Housing Market Right Now

MLS Contract Prices- 55 Metros

The mainstream media reported the Case Shiller Index for “May.” I put that in quotes because the data does not represent the actual state of the market in May. Case Shiller represents the 3 month average price of repeat sales (not all sales, just houses that had sold previously) which were recorded by county agencies…

Here Are The Facts That Show New Homes Sales Are Actually a Bust And ZIRP A Failure

New House Sales By Region- Click to enlarge

The seasonally adjusted (SA) headline number for the monthly-error-times-12-annualized version of new home sales in June was 482,000. Wall Street analysts had guessed that the number would be 550,000. The Wall Street Journal went into apoplectic excuse-making mode, almost foaming at the mouth to try to find pundits to explain away the bad number. The…

Mouthpiece Of The Mob Says Existing Home Sales Are All Good News

Home Sale Prices and Volume - Click to enlarge

The media dutifully reported the NAR’s version of seasonally adjusted, built-in monthly error times 12, annualized, officially recorded, home sales closings in June today. The housing industry cartel and lobbying behemoth said that houses are selling at an annual rate of 5,340,000 on that basis. Bloomberg enthused that, “Sales of previously owned U.S. homes climbed to an eight-year high in June…

Here’s Why WSJ New Home Sales Headline Is Technically Correct But Still Misleading- It’s Still A Depression

New Home Sales By Region- Click to enlarge

The Wall Street Journal is Rupert Murdoch’s PR organ for his Move Inc. subsidiary, which provides marketing services Realtors. The Journal put out a PR release yesterday that,” U.S. New-Home Sales Rise to 7-Year High.” While technically correct, it is nevertheless misleading, tainted by the paper’s tilt toward bullish pronouncements on housing, thanks to Move Inc.’s main client being the…

Wall Street Journal Prints Housing Whoppers As The Housing Industry PR Firm It Actually Is

NARsales

Rupert Murdoch’s News Corp. owns the Wall Street Journal and the housing marketing service Move Inc. Move Inc.’s main client is the National Association of Realtors. In sisterhood with Move, the newspaper is prone to printing outright, bald-faced lies about the state of the housing market in the US, whenever it thinks it can get away with it.…