From Diana Olick:
Of course, "while pending home sales have historically been a one-month leading indicator to existing home sales, with a 71% correlation using a one-month lag," writes JP Morgan analyst Michael Rehaut, "we note that since October, the relationship has been more volatile. Specifically, Feb.’s Pending Home Sales rose 2.0%, but March Existing Home Sales fell 3.0%." Rehaut adds that rising unemployment and weak consumer confidence will keep these levels depressed through the year.
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gotta be kidding me . these guys will spin anything ! this is seasonal only change. thay said the same crap last year and the year before that ! give me a break yes sales have increase because of housing becoming more affordable . he failed to tell you that over 60% of these buyers are investors! more forclosures to hit the market for at least 3 more years , estimated 5 million . loosing 650,000 jobs every month = more forclosures .recent moritorium ended, estimated 700,000more homes in whats called shadow inventory , home that banks are sitting on . we still have the comercial collaps that starting now ! oh yes lets not forget all time high credit card dept! i can go on n on ! but i dont need to . theses things alone will continue to collaps the housing market . prices will continue to fall . inventory will start climbing again within the next 3 months or so . we are just getting started with this crash !the economy is collapsing despite what obama and some spinning organizations are saying ! MRA, CNN, CNBC , ETC . PEOPLE DONT BUY NOW ! OPEN YOUR EYES WIDE ! GO WITH GUT FEELING , USE LOGIC ! AND YOU SHOULD GET THROUGH ALL OF THIS !
ReplyDelete"Anonymous said...
ReplyDeletegotta be kidding me . these guys will spin anything ! this is seasonal only change."
Uhh no - it was also up 1.1% on a YOY basis. I agree its pretty pathetic showing, but get your facts straight.
GUYS!! YOU ARE JUST POOR AND CAN'T AFFORD TO BUY!!! ADMIT IT!
ReplyDeleteDoes the term "Spin Doctor" mean anything to these guys?
ReplyDelete"GO WITH GUT FEELING , USE LOGIC !"
ReplyDeleteinteresting recommendation.
Nice catch!
ReplyDeleteunbelievable . you must be a realtor! like i said this is seasonal ! a 1.1% monthly increase means nothing when is down 300 % from 3 years ago! look at the big picture ! that is if you are capable !
ReplyDeletewait up everyone . jim cramer recently said housing will bottom on june 30th . alomost there . i have a house picked out already . my realtor said im smart for taking atvantage of this market and that cramer is right . if i dont buy now i will be priced out again with in the next year or so . my realtor is so smart ! wow !
ReplyDeletehttp://www.chrismartenson.com/blog/pending-home-sales-%E2%80%93-spin-cycle-set-%E2%80%9Chigh%E2%80%9D/18248 check this out
ReplyDeletehi everybody
ReplyDeletewhere r u from ?
your blog is very nice
:)
check my photoblog too
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Im glad the blog is active again. Bad idea to force people to sign up to fake/spam accounts to post comments.
ReplyDeleteThere were some great posts I would have liked to comment on back when they were fresh, but was prevented unless I signed up to blogger or some other nonsense. Thanks for opening the comments back up to the public!
"unbelievable . you must be a realtor! like i said this is seasonal ! a 1.1% monthly increase means nothing when is down 300 % from 3 years ago! look at the big picture ! that is if you are capable !"
ReplyDeleteUmm clearly you dont understand what seasonal means. if sales go up march 09 to apr 09 that is seasonal. If Sales go up Apr 08 vs. Apr 09 that is NOT seasonal. That is what happened here.
Curious that you think I am not looking at the big picture. Originally, I said the 1.1% increase was pretty "pathetic", but appearently this wasnt emphatic enough for you.
Clearly you were embarassed by my calling you out on this, hence you now deflect and resort to calling me a "Realtor" (better yet why not call me the oh-so-clever "Realtard" TM). Fact of the matter is I think this is just a blip, or at best the beginning of an L shaped recovery - meaning there is no rush to buy for perhaps years to come - none. Regardless, I pointed out this report for what it is, up but in a very pathetic sort of way.