Tuesday, June 9, 2009

Bulls, put your party hats away….again!

Cautious welcome for improvement in housing market as retail sales slow

About 6 per cent of estate agents across the UK said that property values had risen in May, while 42 per cent said that prices fell,

Posted by tim miller @ 01:36 AM (774 views)
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2 thoughts on “Bulls, put your party hats away….again!

  • The Sun has gone back behind the clouds again.

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  • Out of all the bullish articles out today regarding “green shoots” the one below stood out:

    “Inquiries by potential homebuyers rose in May to highest level since 1999”

    To the untuned eye and brain that headline would appear to be significant and indicate that the “number of people enquiring” was at its highlest level since 1999 but no, what they are reporting is the rate of increase. With buyer levels being at an all-time low the Spring period of renewed buyer interest will of course skew the figures. As an example, if I am an EA with 10 enquiries (call me lucky) and the Spring period and good weather increases that number to 15 then that clearly is a massive increase but if the average monthly enquiries is 50 then 15 is still very low.

    I’m not as bearish as many on here and can possibly see the bottom but the latest headlines are little more than exercises in turd polishing.

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