Monday, Mar 24, 2008
US house prices & volume stats
Bloomberg: U.S. Economy: Existing-Home Sales Rise, Prices Fall
Sales of existing homes in the U.S. unexpectedly rose in February as prices fell by the most in four decades. Purchases increased 2.9 percent, the first gain in seven months, to an annual rate of 5.03 million, the National Association of Realtors said today in Washington. The median home value dropped 8.2 percent from a year earlier, the most since the organization began keeping records in 1968.
Posted by alan @ 03:40 PM (330 views) Add Comment
3 Comments
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1. Playground Of Lies said...
This is something to watch for defo http://zeitgeistmovie.com/ the world we live is a playground fueld with greed and lies.
2. Last_days_of_disco said...
I have to say this, "Dead cat bounce"
http://en.wikipedia.org/wiki/Dead_cat_bounce
The US housing market is nowhere near bottom yet. But hey, I could be wrong, now may be the time to use your GBPs to buy a cheap property in New York ;-).
3. Redwing said...
People sometimes have to move house. Perhaps prices in the US have now come down enough to encourage a few FTBs out of the woodwork. OK, they might lose over the coming year or two. But they won't have done nearly so badly as those that bought in 2005/2006.