Jump to content
House Price Crash Forum
Sign in to follow this  
drrayjo

Us - New Residential Sales Feb 08

Recommended Posts

Sales dropped 1.8 percent to an annual pace of 590,000, the least since February 1995

http://www.bloomberg.com/apps/news?pid=206...&refer=home

er, I thought the last figure was lower ... yep : US new home sales at 13-year low - 27 February 2008

"The Commerce Department said sales fell to an annual pace of just 588,000 last month, indicating that the housing market slump is continuing."

Anyone care to explain what Bloomberg are talking about?

EDIT - Ah, I see : from the Bloomberg article:

Purchases in January were revised up to 601,000 from a previously estimated 588,000 pace

FURTHERMORE - how is the casual observer to make sense of the data in these two articles:

Beeb in Feb : "The Commerce Department added that the average price of a new home fell 15.1% in January to $216,000 (£109,000). "

BBerg in March : "The median price decreased 2.7 percent from a year earlier."

I believe the first refers to the the RESALE cost, whilst the latter represents the retail price of a new home.

AND HERE'S A NICE STATISTIC (BBerg) : "... sales kept supply at 9.8 months, the same as in January and the highest since 1981. "

Believe it or not the overhang in supply @ 471,000 is actually seen as good news, cos it's smaller than it was. :o

Edited by Sledgehead

Share this post


Link to post
Share on other sites
er, I thought the last figure was lower ... yep : US new home sales at 13-year low - 27 February 2008

"The Commerce Department said sales fell to an annual pace of just 588,000 last month, indicating that the housing market slump is continuing."

Anyone care to explain what Bloomberg are talking about?

EDIT - Ah, I see : from the Bloomberg article:

Purchases in January were revised up to 601,000 from a previously estimated 588,000 pace

perhaps they've only sold 2000 in month :D

Share this post


Link to post
Share on other sites
It's in the Bloomberg article.

"Purchases in January were revised up to 601,000 from a previously estimated 588,000 pace. "

Edit: I see you've edited your question

I know, I edited that into my message, as you can see from your own.

EDIT : I see you've edited your reply.

( your turn hotairmail - I think we can corner this thread with circular editing if we work fast enough :P )

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 295 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.