SniperFire
Senior Member
Consumer confidence will fuel the economic recovery.
Thursday, 21 Jun 2012 03:45 PM
AP Poll: 7 Out of 10 Say Economy Heading in Wrong Direction
AP Poll: 7 Out of 10 Say Economy Heading in Wrong Direction
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Consumer confidence will fuel the economic recovery.
Consumer confidence will fuel the economic recovery.
What Fools. This is another Artificial Bubble Created by Idiots. As soon as all those suspended Forecloses start going forward this perception of this little bubble will be over.
I have noticed the number of houses up for sale has been rising where I live. More signs cropping up everywhere. A HUGE shadow inventory. Many of these people are seriously underwater and tried to sell their houses before, then gave up. And none of them are negroes!
While the rate of sales may be climbing, it is nowhere near normal. But barring any other derivative bubble pops, we have most likely finally arrived at the bottom and it is all uphill and sunshine from here.
Cautious optimism.
That doesn't necessarily translate into a positive thing.
It means people feel like the market is moving again, and are putting their houses back on the market. I have tracked the market very closely here for the last 8 years.
What Fools. This is another Artificial Bubble Created by Idiots. As soon as all those suspended Forecloses start going forward this perception of this little bubble will be over.
That doesn't necessarily translate into a positive thing.
It means people feel like the market is moving again, and are putting their houses back on the market. I have tracked the market very closely here for the last 8 years.
Or that they cannot pay their Mortgage.
The inventory shortage apparently is helping push up prices following the worst housing slump since the Great Depression, Yun said. The national median price for a home resale rose to $182,600 in May, according to NAR. That's 7.9 percent higher than the same month one year ago, and the highest since June 2010. The last time the American housing market posted three consecutive monthly price increases, year over year, was March to May of 2006.
A report Thursday by the the Federal Housing Finance Agency also showed that U.S. home prices rose 0.8 percent in April from March in a sign of property-market stabilization, agency analysts contend.
Nationally, total housing inventory at the end of May dropped 0.4 percent to 2.49 million existing homes available for sale, NAR reported. That represents a 6.6-month supply of available homes at the current sales pace. In April, there was a 6.5-month supply.
Across the country, listed inventory is 20.4 percent lower than a year ago at this time, when a 9.1-month supply existed. Compare that to the peak of the market in July 2007 when unsold inventory hit a record of 4.04 million homes.
Housing market recovery on track, despite bumps - Economy Watch
Houston-area home sales in May rose to their highest level since the summer of 2008, leaving housing inventory at a five-year low, the Houston Association of Realtors reported today.
Real estate agents sold 6,185 single-family homes last month, an increase of 23.8 percent over May 2011.
With a big uptick in sales of properties priced from $250,000 and up, the median price for single-family home hit a record high, rising 7.1 percent over last year to $168,000. Lower priced foreclosures made up 17.8 percent of all property sales, a share that has steadily declined each month since January when distressed sales hit 27.8 percent.
Home sales rise for 12th straight month | Prime Property | a Chron.com blog
PHOENIX Prices for existing homes here and in surrounding areas climbed by 25 percent during the 12-month period that ended in April, pointing to a decisive shift in the market realities of a place where foreclosed signs, abandoned properties and deserted neighborhoods became one of the most enduring symbols of the nations crippling real estate bust.
http://www.nytimes.com/2012/06/21/u...ml?ref=standardpoorscaseshillerhomepriceindex
Red state.Houston-area home sales in May rose to their highest level since the summer of 2008, leaving housing inventory at a five-year low, the Houston Association of Realtors reported today.
Real estate agents sold 6,185 single-family homes last month, an increase of 23.8 percent over May 2011.
With a big uptick in sales of properties priced from $250,000 and up, the median price for single-family home hit a record high, rising 7.1 percent over last year to $168,000. Lower priced foreclosures made up 17.8 percent of all property sales, a share that has steadily declined each month since January when distressed sales hit 27.8 percent.
Home sales rise for 12th straight month | Prime Property | a Chron.com blog