A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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The NAR reported today that their members settled 361,000 house sales in March (actual, not seasonally manipulated), up 74,000 from February. The median price rose 5.27% versus February and was up 2.5% versus March 2011. This was the largest monthly percentage price gain since June 2005. The year over year gain was the first...
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Contracts for the sale of existing homes rose 15.1% month to month in February, according to data reported today by the real estate brokers lobbying organization. Sales were 14% above the level of February 2011, continuing the rebound in housing market sales. To keep this in perspective the number remains down 37% from the...
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While the media was touting a miss on consensus expectations, and Bloomberg posted an outright lie on Twitter, the actual unadjusted data did show a big improvement over the year ago performance.
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CoreLogic’s data for January closed house sales (mostly November contracts) shows a year over year decline of 3.1% nationally. the month to month decline was 1%. However, the 12 month rate of decline has been slowing sharply. According to CoreLogic, 6 of the 10 largest metropolitan markets in the US showed year over year...
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Boy, we just adverted a government shutdown, hell is breaking loose in Wisconsin (etc), public sector worker jobs are being slaughtered, new house sales at record low. So of course, super bullish numbers come out.
Remember the old rule, the more bull...
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My guess is the overall delinquency rate has peaked, although I expect the delinquency rate to stay elevated.
http://www.calculatedriskblog.com/2011/01/question-3-for-2011-delinquencies-and.
html
Distressed house sales: Foreclosure activity is very h...
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Here’s the official version of the Housing Market update which includes my earlier public rant on the new house sales data released today.
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The total number of employed persons remained near the lowest levels since 2005, and the total number of mortgage purchase applications stayed near the lowest levels in 14 years, this week. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within...
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The new house sales data reflects the impact of the ending of the housing tax credit, reflecting severe ongoing weakness. The Case Shiller data is, as usual, irrelevant, immaterial, misleading, and wrong. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If,...
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Russ Winter and Lee Adler unspin the ConCon data, the Lying Economic Indicators, the Case Chiller, new house sales, and the revival of a dangerous Treasury borrowing program. Also we debate homebuilder economics, and Russ talks about the problem with inventories, and the FDIC.
Not a subscriber? Click here to hear a free...
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I made a little chart yesterday for a free podcast that I didn’t have time to post over on Radio Free Wall Street. I’m discovering that it’s a lot quicker to type a post than it is to talk about an issue for a few minutes and then produce a decent sounding podcast. But...
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Lee Adler goes solo this week and why the the Con con is a con, and expounds on the non-existent housing recovery, the horror show in the Treasury market including data on the crash in Federal tax receipts now under way, and the technical outlook for the stock market. Radio Free Wall Street subscribers...
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