news on housing market: The State of the Union didn't mention housing. - 01/26/11 06:03 PM
After watching the President deliver his State of the Union address, I was very disappointed he said nothing about housing.  Although the December housing data was favorable, making the current inventory 2% less, this is far cry from lifting housing out of the slump.
Unemployment is still high.  Not to mention the number of unemployed that have given up on trying to find a job or the under-employed who are making much less than before.  Many more Americans are still facing foreclosure. This could bring housing inventories back up.   
The tax credits from 2010 worked.  Why can't this be done again?  The big banks … (3 comments)

news on housing market: Some Good News On December Home Sales - 01/21/11 11:17 AM
Existing home sales surged 12 percent in December, giving a strong closing for the 2010 housing market.  It is the third straight month of home resale improvement nation wide.
Sales volume is now as high as it has been since May 2010, just after the federal home buyer tax credit's expiration. 
The number of months needed to sell the current home inventory at the current pace of sales fell by 1.4 months.  This is good news and encouraging sign for 2011.
The break down of home sales by buyer type is as follows:
First time home buyers were 33% of all sales
Repeat buyers … (0 comments)

 


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