Wave of Foreclosures Drives Prices Lower, Lures Buyers
Posted By Barry Ritholtz On May 23, 2008 @ 2:45 pm In Data Analysis,Financial Press,Real Estate | Comments Disabled
Hey, I thought that the glut of foreclosed homes had driven U.S. home prices down so much that buyers were jumping back into the market?
Didn’t I read that somewhere?
Oh, that’s right — that was actually an erroneous front page article in the WSJ [1]. It turned out the the February pop was just the ordinary seasonal pattern [2].
Oops, sorry, my bad — pardon the interruption . . .
Housing Prices Deflated
[3]
Unsold Inventories Pile Up
[4]
charts courtesy of Haver Analytics, Merrill Lynch
>
Previously:
Existing Home Sales, Non Seasonally Adjusted, Explained [2] (March 2008) http://bigpicture.typepad.com/comments/2008/03/existing-home-s.html
How Counter-Productive is Realtor Association Spin? [6] (March 2008) http://bigpicture.typepad.com/comments/2008/03/how-counter-pro.html
Wave of Foreclosures Drives Prices Lower, Lures Buyers [1]
Oversupply Triggers Lenders’ Fast Sales; Mr. English Bids
JAMES R. HAGERTY and KRIS HUDSON
WSJ March 25, 2008; Page A1
http://online.wsj.com/article/SB120640573882561087.html
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2008/05/wave-of-foreclosures-drives-prices-lower-lures-buyers/
URLs in this post:
[1] erroneous front page article in the WSJ: http://online.wsj.com/article/SB120640573882561087.html
[2] the ordinary seasonal pattern: http://bigpicture.typepad.com/comments/2008/03/existing-home-s.html
[3] Image: http://bigpicture.typepad.com/photos/uncategorized/2008/05/23/prices_falling_2.png
[4] Image: http://bigpicture.typepad.com/photos/uncategorized/2008/05/23/total_homes_for_sale_2.png
[5]
: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/2008/05/23/total_homes_for_sale.png
[6] How Counter-Productive is Realtor Association Spin?: http://bigpicture.typepad.com/comments/2008/03/how-counter-pro.html
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