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Posts Tagged ‘ Comments ’

Housing comments from Soylent Green

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Housing comments from Soylent Green

Long term readers will remember mortgage broker “Soylent Green is People”. He sent me these comments on housing that I’ll pass along: “A bit of a panic is breaking out amongst my Realtor friends. Sales are down. There are more cancellations right before closings than usual. Builders are getting a few drop outs as...
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A Few Comments on May Existing Home Sales

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A Few Comments on May Existing Home Sales

Earlier: NAR: “Existing-Home Sales Backpedal, Decrease 0.4 Percent in May” A few key points: 1) As usual, housing economist Tom Lawler’s forecast was closer to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in April.   The consensus was for sales of 5.56 million SAAR, Lawler estimated the...
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Comments on February Housing Starts

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Comments on February Housing Starts

Earlier: Housing Starts decreased to 1.236 Million Annual Rate in February The housing starts report released this morning showed starts were down 7.0% in February compared to January, and starts were down 4.0% year-over-year compared to February 2017.   The decline in starts was due to the volatile multi-family sector.  Single family starts were...
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A few Comments on December New Home Sales

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A few Comments on December New Home Sales

New home sales for December were reported at 625,000 on a seasonally adjusted annual rate basis (SAAR). This was well below the consensus forecast, and the three previous months were revised down significantly. On an annual basis, sales were up 8.3% in 2017 compared to 2016.  This was a solid year-over-year gain. Here is...
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A Few Comments on March Existing Home Sales

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A Few Comments on March Existing Home Sales

Earlier: NAR: “Existing-Home Sales Jumped 4.4% in March” A few key points: 1) As usual, housing economist Tom Lawler’s forecast was closer to the NAR report than the consensus.  See: Lawler: Early Read on Existing Home Sales in March “I project that US existing home sales as estimated by the National Association of Realtors...
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Comments: Another Solid Employment Report

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Comments: Another Solid Employment Report

The headline jobs number was above expectations, however there were combined downward revisions to the previous two months. Overall this was a solid report. Earlier: January Employment Report: 227,000 Jobs, 4.8% Unemployment Rate In January, the year-over-year change was 2.34 million jobs. Average Hourly Earnings Click on graph for larger image. This graph is...
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A Few Comments on November Existing Home Sales

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A Few Comments on November Existing Home Sales

Earlier: Existing Home Sales increased in November to 5.61 million SAAR Several key points: 1) The strong year-over-year increase was related to the implementation of the new TILA-RESPA Integrated Disclosure (TRID) in November 2015. Note: TILA: Truth in Lending Act, and RESPA: the Real Estate Settlement Procedures Act of 1974. The impact from TRID...
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A Few Comments on October Existing Home Sales

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A Few Comments on October Existing Home Sales

Earlier: Existing Home Sales increased in October to 5.60 million SAAR First, these October existing home sales closed escrow before the recent increase in mortgage rates (rates started increasing after the election). Also, the recent increase in mortgage rates will probably have little impact on November closed sales, since most of those sales were...
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A few Comments on September New Home Sales

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A few Comments on September New Home Sales

New home sales for September were reported below the consensus forecast at 593,000  on a seasonally adjusted annual rate basis (SAAR). And the three previous months were all revised down significantly. However, sales were up 29.8% year-over-year in September, and this is the best month for September (NSA) since 2007. And sales are up...
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A Few Comments on April Existing Home Sales

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A Few Comments on April Existing Home Sales

Earlier: Existing Home Sales increased in April to 5.45 million SAAR First, please note that once again housing economist Tom Lawler nailed the NAR report. I project that US existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.44 million in April Second, I’d...
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