U.S. New Home Sales Jump 9.6%, Most in Four Years (Obama, March)

[dukester.2]

Aug. 26 (Bloomberg) -- Purchases of new homes in the U.S. jumped more than forecast
in July, adding to signs that the economy is rebounding from the worst recession since the 1930s.

Sales increased 9.6 percent, the most since February 2005, to a 433,000 annual pace, figures
from the Commerce Department showed today in Washington. The number of houses on the
market dropped to the lowest level in 16 years.

U.S. New Home Sales Jump 9.6%, Most in Four Years (Update2) - Bloomberg.com

[Sunny-Days-in-Florida]

Wow, rises from the bottom.

So how are you counting your percentage?

From the negative where we really are or from another starting point?

You failed to mention June and July had RECORD foreclosures.

With that said there should be millions of easy purchase sheriff sale house auctions that you can pick up a house for less then 33% of its real value.

Now add in what those home were purchased for and what they sold for today so we can get a real glimpse into it.

What you also failed to post is the reason for the lowest amount of houses being on the market.

Those houses are NOT ON THE MARKET, they are being sold at SHERIFFS SALES because of record number of foreclosures in June and July.

[LordBalfor]

Originally Posted by Dukester

Aug. 26 (Bloomberg) -- Purchases of new homes in the U.S. jumped more than forecast
in July, adding to signs that the economy is rebounding from the worst recession since the 1930s.

Sales increased 9.6 percent, the most since February 2005, to a 433,000 annual pace, figures
from the Commerce Department showed today in Washington. The number of houses on the
market dropped to the lowest level in 16 years.

U.S. New Home Sales Jump 9.6%, Most in Four Years (Update2) - Bloomberg.com

Yup. All good news.


Ken

[LordBalfor]

Originally Posted by Sunny-Days90

Wow, rises from the bottom.

So how are you counting your percentage?

From the negative where we really are or from another starting point?

You failed to mention June and July had RECORD foreclosures.

With that said there should be millions of easy purchase sheriff sale house auctions that you can pick up a house for less then 33% of its real value.

Now add in what those home were purchased for and what they sold for today so we can get a real glimpse into it.

What you also failed to post is the reason for the lowest amount of houses being on the market.

Those houses are NOT ON THE MARKET, they are being sold at SHERIFFS SALES because of record number of foreclosures in June and July.

And yet those sherriff sales and foreclosures have not stopped home prices and sales on the general market from rising have they?

Ken

[Marlow]

Originally Posted by Sunny-Days90

Wow, rises from the bottom.

So how are you counting your percentage?

From the negative where we really are or from another starting point?

You failed to mention June and July had RECORD foreclosures.

With that said there should be millions of easy purchase sheriff sale house auctions that you can pick up a house for less then 33% of its real value.

Now add in what those home were purchased for and what they sold for today so we can get a real glimpse into it.

What you also failed to post is the reason for the lowest amount of houses being on the market.

Those houses are NOT ON THE MARKET, they are being sold at SHERIFFS SALES because of record number of foreclosures in June and July.

Puts a whole new spin on the cliche "no news is good news."

[Cliff Clavin]

Originally Posted by Sunny-Days90

Those houses are NOT ON THE MARKET, they are being sold at SHERIFFS SALES because of record number of foreclosures in June and July.

If this were the case, national home prices would have fallen. Instead home prices increased the 2nd quarter of 2009.

[LordBalfor]

Originally Posted by Cliff Clavin

If this were the case, national home prices would have fallen. Instead home prices increased the 2nd quarter of 2009.

Indeed.
In fact, the fact that sales and prices have risen IN SPITE of the sharriff sales is a pretty good indicator that there is a lot of upward pressure out there.

Ken

[cleanhouse]

Originally Posted by LordBalfor

Indeed.
In fact, the fact that sales and prices have risen IN SPITE of the sharriff sales is a pretty good indicator that there is a lot of upward pressure out there.

Ken

In some regions and in some price ranges.
It will be telling to see what happens over the winter and after the tax credit. Anyone wanting to get the tax credit better have a contract signed in the next couple of weeks so they can close by 11/30.

[Sunny-Days-in-Florida]

Someone needs to wake up from the dreaming.

Example:

Odessa Florida
Home purchased for 325k in 2003 and lost in March 2009 to foreclosure is now listed for sale at 195k.

Yup, those prices are surely doing a direction. DOWN

How about Dublin Ohio

House purchased for 295k in 2001 and sold at a sheriffs sale for 135k recently.

How about Myrtle Beach South Carolina in the Carolina Forest area.

Home purchased in 2007 for 275k and lost it 2009, now for sale at 145k.

You people are desperate for any good news since Obama seems to have crushed the American dream of owning a home.

Wake up from the dream and realize that nothing is going well under ObamaScare, nothing.

When there is any real good news I will be sure to let you know as the Obama robots need something to smile about after the worst 9 months of any President ever.

[LordBalfor]

Originally Posted by Sunny-Days90

Someone needs to wake up from the dreaming.

Example:

Odessa Florida
Home purchased for 325k in 2003 and lost in March 2009 to foreclosure is now listed for sale at 195k.

Yup, those prices are surely doing a direction. DOWN

How about Dublin Ohio

House purchased for 295k in 2001 and sold at a sheriffs sale for 135k recently.

How about Myrtle Beach South Carolina in the Carolina Forest area.

Home purchased in 2007 for 275k and lost it 2009, now for sale at 145k.

You people are desperate for any good news since Obama seems to have crushed the American dream of owning a home.

Wake up from the dream and realize that nothing is going well under ObamaScare, nothing.

When there is any real good news I will be sure to let you know as the Obama robots need something to smile about after the worst 9 months of any President ever.

Sure - they are down from when they were bought (is that a surprise home prices have been falling for 3 years? ). The question is - what are home prices doing NOW (and for the past quarter). Prices over THAT time have been rising around the country (there are few exceptions - but those places ARE exceptions).

And yes - the these past 8 months (7 actually with Obama in power) have been horrid - but each month has gotten better.

New layoffs - peaked in January & every single month since then (but one) has seen these DECREASE.

Housing prices - down the first 3 months of Obama's term - UP since then

Housing sales - down the first 2 months of Obama's term - UP since then

Stock market - down the first 6 WEEKS of Obama's term - UP the 6 MONTHS since then.



Ken