Wednesday, August 23, 2006

existing home sales

U.S. EXISTING HOME SALES DOWN 11.2% YEAR-OVER-YEAR

U.S. JULY EXISTING HOME MEDIAN PRICE UP 0.9% Y-O-Y

U.S.JULY EXISTING HOME ISUPPLY 7.3-MONTHS, 13-YEAR HIGH

U.S. JULY EXISTING HOMES WELL BELOW 6.56 MILLION EXPECTED

U.S. JULY EXISTING HOME SALES DOWN 4.1% TO 6.33 MILLION RATE


Existing-home sales plunge to 2-year low
Inventories of unsold homes rise to 13-year high


WASHINGTON (MarketWatch) -- Sales of existing homes plunged 4.1% to a seasonally adjusted annualized rate of 6.33 million, the lowest since January 2004, the National Association of Realtors said Tuesday.

Economists were expecting a decline to 6.56 million, according to a survey conducted by MarketWatch.

The report shows a continued weakening in the housing market, with inventories up sharply while prices are softening. Sales are down 11.2% in the past year.

"Boom markets are cooling significantly," said David Lereah, chief economist for the realtors group. Sales fell in all four regions.

The housing market and the economy are "fragile," Lereah said. Some markets that never boomed are now weakening because of sluggish local economies, such as Michigan, Ohio and parts of the Northeast, he said.

"It's important for the Fed to understand how fragile the housing market is, and how fragile the economy is," Lereah said. "The economy impacts housing, and housing impacts the economy."
The inventory of unsold homes rose 3.2% to a record 3.856 million, a 7.3- month supply at the July sales rate, the highest since April 1993. The past year has seen the sharpest increase in inventories on record, Lereah said.

The median sales price has risen 0.9% in the past year to $230,000. It matches June for the weakest price growth in 11 years. Prices fell on a year-over-year basis in the West and the Northeast.

"Prices need to come down to bring back buyers," Lereah said.

Sales of condos rose 2.8% in July to 818,000. Sales of single-family homes fell 5% to 5.51 million

nur noch mal zur erinnerung. der lereah der hier die ganze zeit ziteirt wird hat bis vor kurzem jeden bubble abgestritten und ein wachstum mindestens bis 2010 garantiert
http://immobilienblasen.blogspot.com/2006/08/bagdad-bob-lebt.html


gruß
jan-martin

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