On both of these charts, note that the pace of sales as stabilized. In the case of new homes for a few months and in the case of existing homes for about 10 months. So, do these charts mean the housing market is starting to stabilize? Not yet:
This graph is from Calculated Risk:
So long as prices are in free fall (or cliff diving) we're nowhere near out of the woods.
3 comments:
Looks like shrub is going to double-or even triple-his old man when it comes to falling home prices! Not bad for a reformed drunk!
I think that's the theme of W's presidency--beat Dad in every way possible, both good and bad.
Inventory numbers are suspect (quite the understatement) - this is peak selling season - EOY will be fugly...
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