I opened up my email this morning and found the following optimistic and upbeat headlines and stories from a variety of sources. …all in one morning. Thought I’d share…
- from CNNMoney: Home values rise for first time in 5 years
- from Bloomberg.com: Goldman Sachs Sees ‘Strong’ Recovery Starting For Housing
- from USA Today: Housing starts in June highest in four years
- from the LA Times: Mortgage rates drop again, Freddie Mac says; 30-year at 3.53%
3 Responses
As can be seen in http://www.deptofnumbers.com/asking-prices/nevada/reno/ , the inventory pattern in 2012 is different than the prior years. It did not “bounce” at the beginning of the year and top in summer as usual. Instead the inventory was still low in summer, raising the prices.
A 7% increase in housing starts (USA Today) is not a good sign when it comes with a report in the same month that new home sales fell 8%. We don’t need more inventory.
Well, the Vampire Squid said it, so it must be so….