This is my favorite of all of the Existing Home Sales series — Non Seasonallly Adjusted (NSA).
(Check out Calculated Risk’s existing home sales graphs in his graph gallery).
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click for ginormous chart
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Signs continue that European markets are getting tired. The Spanish and Italian stock markets, big beneficiaries of the sharp decline in their bond yields over the past few months are falling to the lowest since Feb 1. The European bank index is at a 1 1/2 week low after earnings reports from Commerzbank and Credit Ag (RBS bouncing although reporting weaker than expected earnings) were disappointing. This market action is in spite of the German IFO business confidence figure which rose to a 7 month high coming in a touch above expectations and Italian consumer confidence which bounced more than...
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February 23rd, 2011 at 11:02 pm
great chart…
February 24th, 2011 at 12:08 am
Orgasmic!
upwards trajectory for the 2nd year in a row! And that’s without the buyers tax credit. At this rate we’ll ba at the 2007 levels in 5 years. With 3 years of exceptionally few houses built and a few more to go. Things can’t more than go up…………. in a few years.
February 24th, 2011 at 1:24 am
It is funny though, I think I saw almost the same picture with the last year graph. How come the existing home sales always at its peak in May? have anyone notice this?
February 24th, 2011 at 6:38 am
May?
In the “real” world, home sales tend to peak in late spring as families (buyers) move around (job change, relocation, other) and prep their new circunstances for the early fall ritual: back to school.
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February 24th, 2011 at 6:45 am
There is a full annual Housing Cycle – families with kids want to move before the start of the new school year in September.
See this Existing Home Sales, Non Seasonally Adjusted, Explained and this: The Annual Existing Home Sales MSM Errata:
There is much more here