Saturday, Mar 24, 2007
Will this happen when we get our HPC?
BBC News: US house sales jump as prices dip
US existing home sales rose at their fastest rate since March 2004 last month, despite fears of a slowdown in the property market.
Sales of existing homes rose 3.9% in February driven by a surge in activity in the North East, the National Association of Realtors (NAR) said.
Posted by pedagog @ 03:52 PM (228 views) Add Comment
6 Comments
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1. sirgoogle said...
Absolutely.
Peaks on the route down will still be a feature. I doubt that all in the US beleive that the HPC has started - and therefore because of that many will pile in once they think house prices are lower.
2. dohousescrashinthewoods said...
How cute:
"should the housing market experience a significant slowdown and property values fall, this could lead consumers to rein in spending - putting a break on the main driver of growth in the world's largest economy."
Apart from not being able to use the correct spelling of "brake", here is a plain admission that the "main driver of growth" is HPI - aka phantom money, the kind that disappears when a correction comes.
The main driver of US growth is imaginary.
3. Yellerkat said...
In that rather unfortunate phrase, dead cat bounce?
4. inbreda said...
"US existing home sales rose at their fastest rate since March 2004"
March 2004? Wow, talk about historical data!
How many of these sales were repos?
Even they say prices were down. Cant see much positive news for the US housing market here. Just an implication (world economic growth-wise) that the effects will be felt in the UK
5. Nohpc said...
Prices still up on average across the whole of the USA. Not by much but still up.
6. paul said...
Dream on Nohpc.