New Home Sales
by Tom on December 23, 2009
in Market Musings, house prices
A couple of quick thoughts:
- If you look at the numbers comparing year over year, the trend from 2005 through 2009 seems to be holding in that there was a HUGE drop and the drop is slowing quite dramatically. This would seem to imply that while the worst is over, it’s certainly not a good market yet.
- If you look at the second chart, the seasonally adjusted numbers, they are approaching the January numbers which were the lowest since the bottoms in 1980-82 and then back in 1967. That’s not a good sign.
Both of them show that for us to get a renewed new home market, we need jobs. Lot’s of jobs and not just jobs that pay minimum wage but ones that are enough to be able to buy a decent house on.
Tom Vanderwell
Calculated Risk: New Home Sales Decrease Sharply in November
The Census Bureau reports New Home Sales in November were at a seasonally adjusted annual rate (SAAR) of 355 thousand. This is a sharp decrease from the revised rate of 400 thousand in October (revised down from 430 thousand).
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