Another summary post and open thread (for discussion).New home sales in January 2009 (309 thousand SAAR) were 10.2% lower than last month, and were 48% lower than January 2008 (597 million SAAR). See link for graphs of sales and inventory.There was some discussion that the seasonal adjustment might be distorting the sales number. Show More Summary
Just a couple of days ago, on Feb 24th, the NPPL along with other major paintball brands like the ultra popular Paintball2Xtremes paintball magazine, were auctioned off to the highest bidder. Why were they for sale? David over at Paintball.About.com has the explanation, as well as links to all the items/brands/equipment that was up for grabs. With [...]
The Commerce Department reported that new home sales in the U.S. fell 10.2 percent in January to a seasonally adjusted annualized rate of just 309,000, a new all-time low going back 46 years... Not surprisingly, inventory continues to...Show More Summary
Yesterday we mentioned that the free fall in prices of existing homes would depress new home sales. It's really a simple relationship: when existing homes are cheap, people don't buy pricey new homes. Now we've got the new home sales numbers, and they are predictably horrific. Show More Summary
Some very ugly data today on New one-family house sales for January 2009. The seasonally adjusted annual rate of 309,000 — a record-low. (The December data was revised downwards to 344,000 unit sales). The month over month data at down 10.2% was not statistically significant given the margin of error of ±15.4%. The year over year data [...]
The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate of 309 thousand. This is the lowest sales rate the Census Bureau has ever recorded (starting in 1963). Click on graph for larger image in new...Show More Summary
· Nationwide home sales at slowest pace in more than a decade [NYT] · Staten Island condo fining old people for congregating in lobby [NYP] · Surprise, surprise: city's mandatory new crane class is corrupt [NYT] · Greenpoint's re-opening Studio...
Financial News Today: The US Budget, Healthcare, Jobless Claims, New Home Sales, Gas Inventories, Money Supply The current market conditions are providing excellent forex trading opportunities. Then again, very bad trading results if you don't have a disciplined trading system to follow. Show More Summary
Macro Durable Goods Orders (Jan.) (8:30 AM) Initial Claims (week ended Feb. 21) (8:30 AM) New Home Sales (Jan.) (10:00 AM) JPMorgan Chase Investor Day Earnings Limelight Networks (LLNW) (8:00 AM) MetroPCS (PCS) (9:00 AM) Cablevision Systems (CVC) (10:00 AM) U.S. Show More Summary
Real Time Economics at the WSJ excerpts some analyst comments about the existing home sales report: Economists React: ‘So Much for Signs of Stability’ in Housing. A few comments from analysts: "So much for signs of stability.""The drop back in the number of existing U.S. Show More Summary
The NAR press release is in the previous post. Here are some graphs of existing home sales... Click on graph for larger image in new window.The first graph shows existing home sales, on a Seasonally Adjusted Annual Rate (SAAR) basisShow More Summary
NEW YORK — Another steep drop in home sales has dashed some hopes that the housing market would start to show some improvement. A real estate group's report that sales of existing homes fell in January to the lowest level in nearly 12...Show More Summary
Mandatory energy audits on home sales wrong, Toronto's real estate agents say. In the wake of a new municipal land-transfer tax and unmoored by a sinking economy, Toronto real estate agents are bracing for a new storm on the legislative...
Maybe the FDIC is busy in California this week... but it just doesn't feel like Friday yet.Next week should be interesting with the Case-Shiller house price index, New and Existing home sales, and probably delinquency rates from the Fed all being released.Volcker's comments today... "capitalism will survive":
" An estimated 29,458 new and resale houses and condos were sold in California last month — off 22.1 percent from Dec. 2008, and up 53.9 percent from one year earlier, according to a report released last Thursday by MDA DataQuick. Sales volume in the Golden State has now increased on a year-over-year basis for the last seven months, the real estate information service said."
The Census Bureau has released the "Quarterly Starts and Completions by Purpose and Design" report for Q4 today. It is incorrect to directly compare monthly housing starts to new home sales. The monthly housing starts report from the...Show More Summary
Sales of newly built homes in California slowed in December to a new low point in the current economic cycle, the California Building Industry Assn. reported today. Just 1,117 new residences were sold in communities with 10 or more units,...
I've heard stories of savvy English people hopping across the pond for a shopping holiday in New York City thanks to the strong pound; but believe it or not, the Chinese are taking shopping trips with the mission of buying million-dollar homes. These aren't rogue bargain hunters. Show More Summary
Potential home owners might be interested to know that the New Orleans house used in the film Benjamin Button, which was nominated for 13 Oscars, is on the market. Tthe Garden District mansion is 7,800-square feet, and has a big yard, six bedrooms, six
We first told you about the Logitech's flagship Harmony 1100 touchscreen universal remote last month at CES, and now it's available at retailers right on schedule. The big upgrades over the $300 Harmony 1000 are a new black anodized aluminum body and a now-customizable touchscreen. Show More Summary