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Dennis Norman Beginning last November I have written several articles about the “sugar-rush” effect of tax credits and other stimulus on the housing market and voicing my concern that these things are short lived (like a sugar rush on a child) and after the sugar wears off there is a crash….Well, as expected, here it [...]
Dennis Norman Last month I said that I expected to see some elevated numbers in the existing home sales report for May and June since this report would reflect the actual closing of the home purchases from buyers that raced to buy before the April 30th home-buyer tax credit deadline. Even though Congress has [...]
Dennis Norman May and June Sales Expected to Remain Elevated as Buyers Rush to Close By June 30th Deadline for Tax Credits. The deadline to buy a home and qualify for the home-buyer tax credit was April 30th so it’s not surprising we saw pending home-sales increase dramatically in March and April as buyers rushed to [...]
Dennis Norman Sales increased for second consecutive month- With the home-buyer tax credits ending April 30th, it’s not surprising that we saw an increase of home sales in March, and now in April, as buyers rushed to buy before the deadline to have a congract of April 30, 2010. According to the latest report from [...]
Dennis Norman According to the latest report from the National Association of REALTORS(R), existing home sales in the US in March increased 6.8 percent to a seasonally adjusted-annual rate of 5.35 million units in March from a revised level of 5.01 million units in February, and increased 16.1 percent from a year ago when the [...] Dennis Norman According to the latest report from the National Association of REALTORS(R), existing home sales in the US in February decreased 0.6 percent to a seasonally adjusted-annual rate of 5.02 million units in February from a revised level of 5.50 million units in January, however this does represent an increase of 7.0 percent from [...]
Dennis Norman NAR’s “seasonally-adjusted” numbers show sales down 16.7 percent for the month…2009 finishes with 5,156,000 homes sold…My projection for the year was 5,143,000 homes….missed it by 13,000 (2/10 of 1 percent) hmm..not bad for a “non-economist” According to the latest report from the National Association of REALTORS(R), existing home sales in December decreased [...]
Dennis Norman NAR’s “seasonally-adjusted” numbers show sales up 7.4 percent for the month…”actual” numbers show a 5.2 percent decrease….Sales up 44 percent from last year, lest we not forgot last year was the worst in over 10 years… According to the latest report from the National Association of REALTORS(R), existing home sales in November increased 7.4 [...] Dennis Norman By: Dennis Norman According to the latest report released today from the National Association of REALTORS(R), existing home sales for August in the Midwest dropped 6.6 percent to a seasonally adjusted rate of 1.14 million units down from a level of 1.22 million units in July. The August home sales rate of 1.14 million [...] Dennis Norman By: Dennis Norman The St. Louis housing market is showing some signs of strength with St Louis home sales increasing in July to a seasonally adjusted rate of 21,038 homes, an increase of 6.8 percent from June’s seasonally adjusted rate of 19,691 homes. This increase for the month is very close to the increase in home sales [...] Dennis Norman By: Dennis Norman The National Association of REALTORS(R) released its existing home sales report for June showing an increase in sales for the 3rd month in a row as well as higher prices in June. Existing home sales, including single-family, town-homes, condominiums and co-ops increased 3.6% in June to a seasonally adjusted annual rate of [...] |
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