new home sales rise in october

  • Thread starter Thread starter jpmorganfunds_IHB
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New home sales have a margin of error of + or - 20%. And, they are by sales contracts, not actual closings. With cancellation rates at 40% again, the revisions will keep coming. Personally, the new home sales number is the most useless statistic of all the housing stats.
 
Awgee:

Are you high?

No bottom yet. Not even close.

When you see prices and volumes both pick up in the same month, then you can call a bottom. Not untill.
 
But Bernanke is going to lower rates. And lower rates wil strenghten the USD. And that will lead to a stronger economy with lower mortgage rates. Happy days are here again.
 
Subprime is just a tiny portion of the overall mortgage market and the mortgage market is just a small portion of the overall economy. And only a small portion of the subprime mortgages will be a problem, therefore the subprime problem is contained. If you find a unique property that you LOVE, you need to make an offer now. Interest rates are low, sellers are motivated and inventory has never been higher. And contact a Realtor (tm) to represent you because you are too stupid to know what a reasonable offer might be. Only a Realtor (tm) has the ethics, knowledge, and expertise in a specific area to guide you towards a wise purchase.
 
Awgee speaks the truth. We're only a few weeks away from The Awakening! Houses will start flying off the shelves and the 2004 bidding wars will resume. You need to act fast while everyone's asleep at the wheel, lest you be priced-out forever.
 
Is this going to be Sarcasm Friday? If so (being Asian), I will took on the role of Lawerence Yun.

The 1.2 percent raise in new homes sale is clearly evidence of a revival in the housing industry. Historically, home sales have slowed down in the Winter but the recent number indicate a shift in the buying patterns of American. Winter is now the new buying season. Home sales and prices are significantly higher as compared to the 1930s and homeownership means citizenship. The subprime lending hurdle has been eliminated and happy days are here again.

We predict a rise in home sales and price in January 2008. New Homes sales should be up 40% from current levels and prices will return to 2006 levels. The Inland Empire and the Central Valley in California look especially promise after the recent price adjustments. Remember all real estate is local and thus you have to contact your local realtor (tm).
 
Let's see how this rise looks from a few steps back ...

new_1_family.png


That's right - it's that tiny fly poop mark at the edge of the graph.

Found this athttp://bigpicture.typepad.com/
 
The trend is your friend, and that upturn is as clear as any. The best time to get involved in an asset boom is early-on, and you can't get any earlier than this. Not buying a new home now will severly impact future gains as your cost basis would become far too high if you were to wait just a few short months. Contact your Realtor(tm) for details.
 
Oops... I forgot to mention, that new home sales in the west were down 15.7% from last month and down 37.3% YOY. I also forgot to mention the 10.4 months of supply, a new all time high, and this is up from the 6 months supply from last year. Oh, and the revision from the preliminary to final averages a decrease of -7.6% in the west and -4.4% for the U.S.

cliffing2.jpg
 
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