United States Existing home sales 2005,2006 & 2007
About: United States Existing Home Sales from 2005,2006 & 2007. This report provides a sum total of home sales in the Northeast,Midwest,South & West.
According to briefing.com existing home sales is considered a decent indicator of activity in the housing sector. This report combined with the housing starts report gives us a bird's Eye view on the supply & demand of the national housing market. (Housing starts- Supply : Existing Home Sales- Demand)
WIIFM (what's in it for me?): Joe and I completely agree that 'all markets are best judged locally'. We probably put less than half as much time on research on the National Housing Market than in our Local Market.
But falling in love with the National Housing Market does not mean breaking up with our beloved local real estate market. Rather, it compliments it- a bird's eye view if you may.
Also, I believe passionately on the power of group psychology. I think that what the herd is thinking,hearing & doing ultimately affects us all in the real estate market. I've seen this happen time and time again. The general population is more inclined to follow their neighbors, relatives & friends than any reason or logic. So through this report our hope is we can give you an idea of what the majority is doing and hopefully catch the trend or the end of it before the mainstream media reports on it so you can make better investing decisions before everybody else does.
Highlights: Inventories (not shown above) have shot to a multi-decade high of 10.8 months. Pending home sales argue for a small rise after eight consecutive declines summing to -26% since February (2007). Pending resales rose in both September & October suggesting a break in the sales plunge. Prices may have to fall 10%-15% from their peak to clear the huge supply of inventories. (Key factors from Briefing.com)
Observation/comments: Notice October, November and December's numbers. Three months of flat numbers. Though unlikely in my opinion, it could be worth observing for a possible bottom.
Graph:
(click image to enlarge)
Existing Home Sales 2005 (United States)
- Jan- 6.8 M
- Feb- 6.82M
- Mar- 6.87M
- Apr- 7.18M
- May- 7.14M
- Jun- 7.35M
- Jul- 7.15M
- Aug- 7.28M
- Sep- 7.29M
- Oct- 7.09M
- Nov- 7.00M
- Dec- 6.75M
Existing Home Sales 2006 (United States)
- Jan- 6.57M
- Feb- 6.90M
- Mar- 6.92M
- Apr- 6.75M
- May- 6.71M
- Jun- 6.60M
- Jul- 6.33M
- Aug- 6.30M
- Sep- 6.21M
- Oct- 6.24M
- Nov- 6.27M
- Dec- 6.27M
Existing Home Sales 2007 (United States)
- Jan- 6.44M
- Feb- 6.68M
- Mar- 6.15M
- Apr- 6.01M
- Mar- 6.15M
- Apr- 6.01M
- May- 5.98M
- Jun- 5.76M
- Jul- 5.75M
- Aug- 5.48M
- Sep- 5.03M
- Oct- 4.98M
- Nov- 5.00M
Updated: Jan 2,2007
Source: Realtor.org
Next Release Time: To be announced
A very revealing post. Those three months in the latter months of 07' looks pretty interesting. I heard somewhere that the west coast are experiencing the biggest declines. Well, that's California market, southern in particular. I have heard some horror stories. Hope it pans out soon.
Posted by: Jiji | January 03, 2008 at 02:33 PM