Comments on: Pending Home Sales Up

By: ckullback

ckullback — Mon, 17 Nov 2008 17:53:50 +0000

This is also one time when YOY data is misleading. If you remember, last year was a bit of an anomaly Sept. – Nov. as the credit crunch and housing was just hitting it’s stride. Home prices had not budged much if at all vs. the collapse in available credit. This caused a significant drop that was bit exacerbated. Therefore YOY is a bit misleading as house prices dropped dramatically following that lag. This accounts for the small bump in YOY, but still the AWFUL state of housing in general. Don’t mistake this for a positive until the trend holds true for 6 months. It won’t.

By: Tbrander

Tbrander — Mon, 17 Nov 2008 17:21:16 +0000

I just posted a horrible set of Real estate statistics for the Alabama Real Estate market at

http://tbrander.wordpress.com

The Pending stats are generally fairly meaningless, particularly in these miserable times, sales is about all that counts, and while I agree that one month is difficult to draw conclusions from the truly lousy October figures are scary. I generally don’t pay too much attention to month to month but this was pretty exceptional.

Year over year is not so great either.

By: I-Man

I-Man — Mon, 17 Nov 2008 15:58:47 +0000

When will these guys get it?!

YEAR OVER YEAR

not Month to Month…

Its starting to get a little ridiculous.