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Just curious but does month to month even matter? Arent sales supposed to go up as spring and the "buying season" comes up? You failed to mention sales were down year over year which of I believe is the only thing that matters. Why not post that?
"The number of new sales contracts on existing homes rose a seasonally adjusted 2.1% in February amid improved affordability and stimulus incentives, a real estate trade group said Wednesday. The index was down 1.4% from a year earlier ..."
This means nothing -- contract offers for people who cannot hold onto their jobs or get a loan do not make up a meaningful statistic. Actual sales that go through to closing are the only relevant numbers.
Besides, look who the source of this data is -- not an independent analyst, just a bunch of realtors/housing industry guys. Given how many times the NAR propaganda machine had to go back and "revise" their estimates, I wouldn't put much stock in this latest batch of numbers from realtors either.
Just curious but does month to month even matter? Arent sales supposed to go up as spring and the "buying season" comes up? You failed to mention sales were down year over year which of I believe is the only thing that matters. Why not post that?
Total misinformation. A year ago is over and has nothing to do with assessing the current state of the market. It will rebound when monthly activity increases in the Spring and Summer months. Could easily be gains for the next several months with homes sales generally exceeding extremely low expectations suggesting a bottom is forming. The point is, activity is still very low but the direction of housing appears to be up and not down. And the 11% gain in the northeast is very solid.
OK if you believe that I have a bridge over here for you. What exactly about the state of our country and economy makes you even think that we might be headed for a rise in anything at all? I have no motives in any way shape or form but honestly you have to be crazy to think better times are ahead. People are hurting and will continue to hurt for some time. That does not bode well for the real estate market. Sorry maybe I am dumb but if I am a betting man I am a big big bear.
it's spring, it's a seasonal market...this is the same stupidity that was happening last year when realtors were pointing to M/m increases as "proof" the situation was ok.....the question is, what happened Y/Y?
btw, notice how stupid wall street is for falling into this trap as well...tells you why we're in this pickle in the first place...the same guys who gave us the internet bubble folly in the late 1990s....
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