Hope you've had a great short week, and you're ready for the Feast !
As we discussed on Monday, there were quite a bit of pivotal numbers coming out, and I wanted to take a look at them together with you. Whether this will aid in your digestion tomorrow will remain to be seen.
New Residential Sales: October came in at 8.1% below September and 28.5% below October 2009, and compared to the same numbers released last month, which showed a 6.6 percent short term increase, but was also substantially below the previous year (21.5 percent decrease). What happened to another short-term increase? Where did that go?
Existing-Home Sales: The figures for October came in 2.2% below September, and 25.9% below October 2009, reflecting, of course, the tax credit frenzy during that period of time.
FHFA Quarterly Index: This purchase-only FHFA house price index showed a 1.6% drop from the 2nd Quarter to the 3rd Quarter, and a 3.2% drop from the same period in 2009. The biggest movers were the Mountain Division of the US, which was down 4%, while the New England Division rose 0.9%
We still have a long way to go until we start seeing rock-solid numbers coming out with every new release, and it certainly will, as we cannot create more land, just more houses!
As a final note, we will be doing a very informative piece on Friday, which will cover the topic of Bank REOs and Foreclosures, so be sure to tune-in (and digest).
Have a Safe and Happy Thanksgiving
...and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com
