Let’s call a spade a spade, please. What we have here is housing “inflation,” hardly housing “recovery.” Housing prices are rising 10-15% per year, but…
The news media reported yesterday that the NAR’s Pending Home Sales Index for December was a huge miss, falling far short of economists’ consensus expectations.…
From Department of Numbers The chart below shows the increasing amounts of money you’re able to borrow on a 30-year fixed rate mortgage with a $1,000…
The Manufacturing ISM number did not surprise to the downside as Goldman’s GSAI was indicating (see discussion). The divergence between GSAI and the ISM has in fact widened, as the corporate sector exhibits a great deal of pessimism. Nevertheless US ma…
Privately-owned housing starts in September were at a seasonally adjusted annual rate (SAAR) of 872,000. This is 15.0 percent (±12.1%) above the revised August estimate…
Back in April, we discussed a very simple US housing market index developed by Goldman. The index basically looks at the percentage of US zipcodes that have experienced housing price appreciation (see discussion). Here is an update. Currently roughly 5…
The Commerce Department’s actual, not seasonally adjusted, data for August dropped to 31,000 units from 34,000 in July. Such downticks are normal for the second…
The 30 day moving average of US house sales for the 30 days ended July 26 showed prices continuing to rise while sales volume declined for…
Sales contracts for June (what the NAR refers to as “Pending Home Sales”) dipped slightly from the May peak. The month to month decline of…
The mainstream financial media breathlessly proclaimed the worst housing data in x months this morning, on the release of the Commerce Department’s monthly new home…
