Cigar
02-23-2016, 02:02 PM
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Source: Bloomberg
Sales of previously owned U.S. homes unexpectedly rose in January to the second-highest pace since early 2007, indicating the industry will keep prospering.
Closings, which usually take place a month or two after a contract is signed, advanced 0.4 percent to a 5.47 million annual rate, the National Association of Realtors reported Tuesday in Washington. Prices climbed from January 2015 as the number of dwellings on the market fell.
Near record-low mortgage rates, steady job gains and better wage growth are helping encourage prospective buyers, including first-time purchasers. Further strengthening in residential real estate will support the economy and make up for weakness in manufacturing tied to weaker global growth.
“Consumers are pretty keen to purchase a home,” said Gennadiy Goldberg, an economist at TD Securities in New York. “Slow and steady growth is what we want. It’s really positive for the U.S. economy in general.”
http://www.bloomberg.com/news/articles/2016-02-23/sales-of-existing-u-s-homes-rise-to-second-highest-since-2007
(http://www.bloomberg.com/news/articles/2016-02-23/sales-of-existing-u-s-homes-rise-to-second-highest-since-2007)
As you can see, it's all going to Hell
Source: Bloomberg
Sales of previously owned U.S. homes unexpectedly rose in January to the second-highest pace since early 2007, indicating the industry will keep prospering.
Closings, which usually take place a month or two after a contract is signed, advanced 0.4 percent to a 5.47 million annual rate, the National Association of Realtors reported Tuesday in Washington. Prices climbed from January 2015 as the number of dwellings on the market fell.
Near record-low mortgage rates, steady job gains and better wage growth are helping encourage prospective buyers, including first-time purchasers. Further strengthening in residential real estate will support the economy and make up for weakness in manufacturing tied to weaker global growth.
“Consumers are pretty keen to purchase a home,” said Gennadiy Goldberg, an economist at TD Securities in New York. “Slow and steady growth is what we want. It’s really positive for the U.S. economy in general.”
http://www.bloomberg.com/news/articles/2016-02-23/sales-of-existing-u-s-homes-rise-to-second-highest-since-2007
(http://www.bloomberg.com/news/articles/2016-02-23/sales-of-existing-u-s-homes-rise-to-second-highest-since-2007)
As you can see, it's all going to Hell