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U.s. November Pending Sales Of Existing Homes Falls 2.5%

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``The extended boom in home sales appears to have run its course,'' in 2006, said Robert Mellman, an economist at JPMorgan Chase Bank in New York, before the report. ``The housing market frenzy that enticed potential homebuyers to rush into purchases before prices moved still higher has now apparently broken.''

U.S. November Pending Sales of Existing Homes Falls 2.5%

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Bloody love those Americans. Just tell it like it is - none of that VI dross.

Their EAs are still spinning however:


"WASHINGTON -- A cooling housing market may put buyers in the driver's seat while an improving job market could give workers and jobseekers more leverage, economists say.
"As more listings of homes come on the market during this period of
modestly declining sales
, more home buyers will find themselves in a better position to negotiate," said the association's president Thomas Stevens.
Either way, analysts read a pair of economic reports Thursday as indicating
a soft landing
for the high-flying housing sector and a smoother ride for the labor market."

EAs and VIs will not use the "C" word. When you consider that there has never been a "soft landing" for a high flying baloon its easy to see why there is so much fear in the marketplace among those who want to see prices continue rising up up and away.

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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